Okta (NASDAQ:OKTA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Okta in a research report on Wednesday, December 3rd. Stifel Nicolaus cut their target price on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Guggenheim reiterated a “buy” rating and issued a $138.00 price target on shares of Okta in a research note on Wednesday, December 3rd. Cantor Fitzgerald cut their price objective on shares of Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Morgan Stanley reduced their price objective on Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.26.

Okta Stock Up 2.0%

Shares of NASDAQ OKTA opened at $73.97 on Friday. The business’s 50 day moving average price is $86.06 and its two-hundred day moving average price is $87.76. The company has a market cap of $13.11 billion, a PE ratio of 67.86, a price-to-earnings-growth ratio of 2.81 and a beta of 0.79. Okta has a twelve month low of $68.77 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. As a group, research analysts anticipate that Okta will post 0.42 EPS for the current fiscal year.

Okta announced that its board has authorized a share repurchase plan on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $12,775,981.95. This represents a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 1,836 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider directly owned 36,328 shares in the company, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Okta in the 1st quarter valued at approximately $225,000. NewEdge Advisors LLC increased its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Okta in the second quarter valued at approximately $244,000. AlphaQuest LLC raised its position in Okta by 314.2% during the second quarter. AlphaQuest LLC now owns 2,307 shares of the company’s stock valued at $231,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Okta by 5.0% during the second quarter. Teacher Retirement System of Texas now owns 25,160 shares of the company’s stock worth $2,515,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analysts and previews flag potential upside from Q4 trends — Zacks and other previews expect steady revenue growth, rising RPO and continued AI/security momentum that could support the stock around the upcoming report. Okta Set to Report Q4 Earnings
• Positive Sentiment: Robert W. Baird (reported via TipRanks) maintained a Buy rating and a $125 price target, signaling continued conviction from at least one buy‑side analyst. Baird Buy Rating
• Positive Sentiment: Okta announced management will present at an upcoming investor conference — a visibility event that can help reinforce guidance and sell‑side dialogue ahead of earnings. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: Market commentary is asking whether the recent share slide leaves Okta undervalued; that narrative can attract value investors but also highlights ongoing caution. Is It Time To Reconsider Okta
• Neutral Sentiment: Profile pieces on Okta executives and engineering/security leadership add context but are unlikely to move the stock materially near term. Executive Profile
• Negative Sentiment: BMO Capital trimmed its price target to $83 and kept a Market Perform rating — a notable downgrade that signals more cautious near‑term expectations from that shop. BMO Capital Expects Solid Q1
• Negative Sentiment: Several sell‑side shops have reduced targets recently (Jefferies: $125 → $105; BTIG: $116 → $90; Cantor Fitzgerald: lowered to $100), which increases headline risk and could cap near‑term upside even where ratings remain Buy. Jefferies/BTIG Price Target Cuts Cantor Fitzgerald Cuts PT

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.