Okta Story

<div class='circular--portrait' style='background:#FF6600;color: #FFFAFA;font-size:3em;'>OKT</div>
OKTA -- USA Stock  

USD 263.46  0.54  0.20%

While some baby boomers are getting worried about technology space, it is reasonable to go over Okta Inc against economic and market trends. As we have suggested previously, Okta is beginning its slip as investors shift to be more bearish due to the increased sector volatility. Okta Inc slowly supersedes the market. The returns on the market and returns on Okta appear slightly correlated for the last few months. Strong basic indicators of the company may suggest signs of short-term price drift for investors. Okta Inc is scheduled to announce its earnings today. The next earnings report is expected on the 4th of March 2021. The stock is currently outperforming technology sectors.
Published over a month ago
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Will Okta (NASDAQ:OKTA) continue to slip in January?
This firm's average rating is Buy from 13 analysts. Do analysts base this consensus on technical analyses? We know that typical technical analysis utilizes price momentum, patterns, and trends looking at historical prices. It aims to identify signals based on Okta market sentiment investors' perception of the future value of Okta. Let us look at a few aspects of Okta technical analysis.
Using predictive technical analysis, we will analyze different prices and returns patterns and diagnose historical swings to determine the real value of Okta Inc. In general, we focus on analyzing Okta stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Okta's daily price indicators and compare them against related drivers such as momentum indicators and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Okta's intrinsic value. In addition to deriving basic predictive indicators for Okta, we also check how macroeconomic factors affect Okta price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Okta's stock price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy. Please use the tools below to analyze the current value of Okta in the context of predictive analytics.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Okta. Your research has to be compared to or analyzed against Okta's peers to derive any actionable benefits. When done correctly, Okta's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy towards taking a position in Okta Inc.

How does Okta Stands against Peers?

Analyzing Okta competition or peers my help you to expand the diversification possibilities of your existing portfolios and to get a better perspective on locking in new positions. Try to analyze the advantages of investing in traded instruments related to Okta across multiple sectors and thematic ideas. A good competitive analysis can cover a lot of different areas. But what areas to choose depends on who you are. The more exhaustive you are in your analysis, the more effective your competitive analysis will be.
Check out Okta Competition Details

What do experts say?

Stock analysis is a method for investors and traders to make buying and selling decisions. By studying and evaluating past and current data, investors and traders attempt to gain an edge in the markets by making informed decisions. It is good to see analyst projects for Okta, but it might be worth checking our own buy vs. sell analysis

Okta exotic insider transaction detected

Legal trades by Okta insiders are very common, as founders, directors, or employees of any publicly traded firm often have stock or stock options. These trades are made public in the United States through the filing of Form 4 of the Securities and Exchange Commission. Below entry was recorded recently and is publicly available as an insider trade:
Okta insider trading alert for general transaction of restricted stock units by Kramer Christopher K, Chief Accounting Officer, on 20th of January 2021. This event was filed by Okta Inc with SEC on 2021-01-20. Statement of changes in beneficial ownership - SEC Form 4 [view details]   
Note, although insider trading is legal, in the United States, Canada, Australia, and Germany, for mandatory reporting purposes, corporate insiders are defined as a company's officers, directors, and any beneficial owners of more than 10% of a class of the company's equity securities.

Closer look at Okta Semi Deviation

Okta Inc has current Semi Deviation of 2.73. Semi-deviation provides a good measure of downside risk for a equity or a portfolio. It is similar to standard deviation, but it only looks at periods where the returns are less than the target or average level.

Semi-deviation is the square root of semi-variance. Semi-variance is calculated by averaging the deviations of returns that have a result that is less than the mean.

Semi Deviation 
=  
SQRT(SV) 
 = 
2.73
SQRT = Square root notation
SV =   Okta semi variance of returns over selected period
Let's now compare Okta Semi Deviation to its closest peers:
OKTA
BB
BL
EEFT
EVTC
OKTA2.732430078518388
BB2.26
BL2.73
EEFT1.75
EVTC1.38

Analysis of Okta Inc

Downside deviation is down to 3.06. It may suggest a possible volatility slip. As of the 2nd of December, Okta holds the Risk Adjusted Performance of 0.109, coefficient of variation of 1228.82, and Semi Deviation of 2.73. Compared to fundamental indicators, the technical analysis model allows you to check existing technical drivers of Okta, as well as the relationship between them. Put it differently, you can use this information to find out if the company will indeed mirror its model of past market data, or the prices will eventually revert. We were able to analyze nineteen technical drivers for Okta Inc, which can be compared to its competitors. Please check Okta Inc information ratio, value at risk, as well as the relationship between the Value At Risk and expected short fall to decide if Okta Inc is priced some-what accurately, providing market reflects its current price of 230.21 per share. Given that Okta has jensen alpha of 0.2177, we recommend you to check out Okta Inc's recent market performance to make sure the company can sustain itself at a future point.

The Bottom Line

Whereas some firms in the software?infrastructure industry are either recovering or due for a correction, Okta may not be as strong as the others in terms of longer-term growth potentials. Taking everything into account, as of the 2nd of December 2020, our primary 30 days buy-sell recommendation on the company is Strong Hold. We believe Okta is currently fairly valued with very low chance of financial distress for the next two years.

About Contributor

This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Achuva Shats do not own shares of Okta Inc. Please refer to our Terms of Use for any information regarding our disclosure principles.

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