Okta (NASDAQ:OKTA) Price Target Raised to $165.00 at Mizuho

Okta (NASDAQ:OKTA) had its price target hoisted by Mizuho from $145.00 to $165.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential downside of 4.88% from the company’s previous close.

Several other analysts also recently commented on the stock. Evercore reiterated an “outperform” rating and issued a $185.00 target price on shares of Okta in a report on Thursday. Wells Fargo & Company raised shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $150.00 to $180.00 in a research report on Monday, August 17th. Royal Bank Of Canada lifted their target price on shares of Okta from $166.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their target price on Okta from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Okta in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average target price of $166.68.

Okta Stock Performance

Shares of Okta stock traded up $39.04 on Thursday, hitting $173.46. The company had a trading volume of 12,685,728 shares, compared to its average volume of 3,534,240. Okta has a 1 year low of $62.66 and a 1 year high of $174.85. The stock has a 50 day moving average of $139.27 and a 200-day moving average of $104.50. The stock has a market capitalization of $30.15 billion, a price-to-earnings ratio of 125.40, a P/E/G ratio of 4.70 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.Okta’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities analysts anticipate that Okta will post 1.75 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares of the company’s stock, valued at $3,028,920. This trade represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 165,347 shares of company stock valued at $21,827,342. Corporate insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. Eurizon Capital SGR S.p.A. purchased a new position in Okta in the 4th quarter valued at approximately $3,122,000. Swedbank AB boosted its holdings in shares of Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after acquiring an additional 1,007,915 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Okta in the first quarter valued at $2,077,000. Torque Asset Management LLC grew its position in shares of Okta by 40.5% in the fourth quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after purchasing an additional 83,337 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Okta by 7.7% during the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock valued at $39,142,000 after purchasing an additional 35,700 shares during the period. Institutional investors own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q2 results beat expectations: Okta reported revenue of $805 million, up 10.6% year over year and above the roughly $793 million consensus estimate. Adjusted earnings of $1.05 per share also exceeded expectations of $0.96. Subscription revenue increased 12%, while cash flow, backlog and bookings trends provided additional support. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: Guidance was raised: Management now expects fiscal 2027 revenue of approximately $3.22 billion to $3.23 billion, compared with its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue and EPS guidance also came in above analyst estimates, signaling better near-term execution. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: Analyst sentiment improved: Several firms raised price targets following the report, including Morgan Stanley and Truist to $200, RBC to $195 and Oppenheimer to $190. Analysts cited stronger core identity demand, new annual contract value and the long-term opportunity in securing AI agents. Analysts see further upside as Okta stock hits YTD high on Q2 earnings
• Neutral Sentiment: AI opportunity is promising but early: Okta launched Agent SSO to manage access for enterprise AI agents and reduce dependence on risky static API keys. However, management indicated that AI security is not yet a major revenue contributor, making the opportunity more dependent on future adoption. Okta Launches Agent SSO For Enterprise AI Access
• Negative Sentiment: Valuation and execution risks remain: After the rally, Okta trades at a demanding valuation, while its roughly 10%–11% projected fiscal 2027 growth leaves less room for disappointing bookings, margins or AI monetization. Some commentary also flagged slower growth and weakness in a key bookings measure as risks.

Okta Company Profile

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.