DA Davidson Reaffirms Buy Rating for Okta (NASDAQ:OKTA)

Posted by Kyle Jackson on Mar 5th, 2026

Okta (NASDAQ:OKTA – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research report issued on Thursday,Benzinga reports. They currently have a $110.00 target price on the stock. DA Davidson’s price objective indicates a potential upside of 40.70% from the company’s current price.

A number of other analysts also recently weighed in on the company. Piper Sandler upped their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.40.

View Our Latest Stock Analysis on OKTA

Okta Trading Up 9.0%

NASDAQ OKTA traded up $6.44 during trading on Thursday, reaching $78.18. The company’s stock had a trading volume of 5,624,842 shares, compared to its average volume of 3,160,438. The firm has a 50 day moving average price of $85.40 and a 200 day moving average price of $87.51. Okta has a 12 month low of $68.77 and a 12 month high of $127.57. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 71.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.79.

Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, equities analysts forecast that Okta will post 0.42 EPS for the current fiscal year.

Okta declared that its board has initiated a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 8,370 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the sale, the insider directly owned 11,266 shares in the company, valued at approximately $1,016,080.54. The trade was a 42.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,245 shares of company stock worth $3,385,624 in the last 90 days. 5.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Okta during the third quarter valued at about $26,000. Elevation Wealth Partners LLC raised its holdings in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. Promus Capital LLC acquired a new stake in Okta during the 2nd quarter worth approximately $27,000. SHP Wealth Management bought a new stake in Okta during the 4th quarter worth approximately $27,000. Finally, Torren Management LLC acquired a new position in Okta in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta News Summary

Here are the key news stories impacting Okta this week:

Positive Sentiment: Q4 beat and durable subscription growth — Okta reported Q4 revenue of $761M (up ~11.6% YoY) and EPS that topped estimates, driven by strong subscription adoption and improving profitability; this is the primary catalyst for the intraday rally. OKTA Shares Jump on Solid Q4 Earnings Beat, Revenues Increase Y/Y
Positive Sentiment: Company highlights AI agents as a growth vector — management emphasized AI agent/security opportunities and new partnerships (e.g., PGA) that position Okta as identity infrastructure for agentic AI, supporting the longer-term story. Okta’s stock rallies as momentum in AI agents fuels an earnings beat
Neutral Sentiment: Broader cloud rally is lifting names including OKTA — sector strength today (WCLD and other cloud names) is amplifying Okta’s move alongside company‑specific results. Cloud stocks jump, head for best day in nearly a year despite broad market declines
Neutral Sentiment: Wall Street still split but many firms kept buy/overweight ratings — several analysts reiterated buy stances citing AI/identity positioning even as they trimmed models, which keeps upside case intact for investors focused on long-term secular demand. Okta: Leveraging Identity as Core AI Security Infrastructure to Drive Durable Growth
Negative Sentiment: Near‑term revenue guidance disappointed — Q1 revenue guide ($749M–$753M) came in slightly below Street expectations, and management warned revenue growth will slow, which is a key reason some investors reacted cautiously. Okta forecasts slowest revenue growth since IPO amid economic uncertainty
Negative Sentiment: Analysts trimmed price targets en masse — multiple shops lowered targets (Piper Sandler, Deutsche Bank, Berenberg, Truist, etc.), creating headline risk and capping near‑term upside despite some retained buy ratings. Okta Posts Q4 Beat; Analysts Cut Price Targets For Early AI Agent ‘Leader’
Negative Sentiment: Mixed market reaction after-hours — some outlets noted a modest after‑hours dip as investors digested the softer near‑term guide and the slower growth narrative despite the beat. Okta beats Q4 estimates but shares dip on muted outlook

About Okta

(Get Free Report)

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.