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Should You Buy Okta Inc (OKTA) Stock on Monday?

Monday, May 16, 2022 11:04 AM | InvestorsObserver Analysts

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Should You Buy Okta Inc (OKTA) Stock on Monday?

Okta Inc (OKTA) stock has gained 4.75% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bullish
Okta Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on OKTA!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With OKTA Stock Today?

Okta Inc (OKTA) stock is trading at $93.05 as of 10:50 AM on Monday, May 16, a drop of -$4.65, or -4.76% from the previous closing price of $97.70. The stock has traded between $92.71 and $97.52 so far today. Volume today is below average. So far 379,626 shares have traded compared to average volume of 2,358,879 shares. To see InvestorsObserver's Sentiment Score for Okta Inc click here.

More About Okta Inc

Okta sells solutions for identity and access management. Its workforce offerings contain products to protect and enable employees, contractors, and partners, while customer identity and access products securely enable an organizations' customers to use applications. Okta's software solutions are cloud-delivered, and its integration network gives customers security protection and access across a wide variety of applications that are critical to business and government needs. The California-based company went public in 2017. Click Here to get the full Stock Report for Okta Inc stock.

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