An Estimate Of Target Price: Okta, Inc. (OKTA), Halliburton Company (HAL) – The RNS Daily

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OKTA trading volume has lost -311244 shares compared to readings over the past three months as it recently exchanged 1768756 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 2080000 shares, and this is 0.85 times the normal volume. A look at its technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 55.78 point.

Okta, Inc. (NASDAQ:OKTA) climbed by 28.42% over the past three months which led to its overall six-month increase to stand at 13.69%. The equity price rose 2.06% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that its shares have recorded a -2.06% fall over the past 30 days. Over the past 12 months the stock has embarked on a rally that has seen it rise 104.64% and is now up by 29.91% since start of this year.

The shares of Okta, Inc. dropped by -5.52% or -$4.84 from its last recorded high of $87.72 which it attained on February 20 to close at $82.88 per share. Over the past 52 weeks, the shares of Okta, Inc. has been trading as low as $37.21 before witnessing a massive surge by 122.74% or $45.67. This price movement has led to the OKTA stock receiving more attention and has become one to watch out for. It jumped by 2.99% on Thursday and this got the market excited. The stock’s beta now stands at 0 and when compared to its 200-day moving average and its 50-day moving average, OKTA price stands 31.03% above and 6.05% above respectively. Its average daily volatility for this week is 5.69% which is more than the 4.37% recorded over the past month.

Experts from research firms are bullish about the near-term performance of Okta, Inc. (OKTA) with most of them predicting a $80.39 price target on a short-term (12 months) basis. The average price target by the analysts will see a -3% rise in the stock and would lead to OKTA’s market cap to surge to $9.19B. The stock has been rated an average 2.1, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 19 analysts that track Okta, Inc. (NASDAQ:OKTA) and find out that 7 of them rated it as a Hold. 12 of the 12 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

The price of Halliburton Company (NYSE:HAL) currently stands at $28.47 after it went down by $-0.03 or -0.11% and has found a strong support at $28.24 a share. If the HAL price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $28 mark would also be bad for the stock as it means that the stock would plunge by 1.65% from its current position. However, if the stock price is able to trade above the resistance point around $28.79, then it could likely surge higher to try and break the upward resistance which stands at $29.1 a share. Its average daily volatility over the past one month stands at 2.65%. The stock has plunged by 0.53% from its 52-weeks high of $28.32 which it reached on May. 17, 2018. In general, it is 13.24% above its 52-weeks lowest point which stands at $24.7 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Halliburton Company (HAL) for 1 year and it stands at an average $38.66/share. This means that it would likely increase by 35.79% from its current position. The current price of the stock has been moving between $28.32 and $28.87. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $30. On the other hand, one analyst is super bullish about the price, setting a target as high as $50.

The HAL stock Stochastic Oscillator (%D) is at 24.03%, which means that it is currently oversold and its prices could jump very soon. The shares P/S ratio stands at 1.05 which compares to the 2.36 recorded by the industry or the 12.83 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 13.18, which is lower than the 15.51 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -4.7% over the past five years.

Analysts view Halliburton Company (NYSE:HAL) as a Buy, with 1.8 consensus rating. Reuters surveyed 34 analysts that follow HAL and found that 4 of those analysts rated the stock as a Hold. The remaining 30 were divided, with 30 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Halliburton Company (HAL) shares or sell it if they already own it.

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