Okta (NASDAQ:OKTA) Price Target Raised to $200.00

Okta (NASDAQ:OKTA) had its price target increased by Bank of America from $170.00 to $200.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on OKTA. BTIG Research lifted their target price on Okta from $187.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and set a $190.00 target price on shares of Okta in a report on Thursday, August 27th. New Street Research set a $200.00 price target on Okta in a research report on Thursday, August 27th. Capital One Financial set a $171.00 price target on Okta and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Okta in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average target price of $175.89.

Okta Price Performance

OKTA stock opened at $182.37 on Friday. Okta has a 12 month low of $62.66 and a 12 month high of $192.59. The firm has a market cap of $31.88 billion, a PE ratio of 109.86, a P/E/G ratio of 5.67 and a beta of 0.79. The firm has a 50 day simple moving average of $153.56 and a 200 day simple moving average of $115.77.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $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. As a group, sell-side analysts expect that Okta will post 1.92 earnings per share for the current year.

Insider Transactions at Okta

In other news, CEO Todd McKinnon sold 68,936 shares of Okta stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the transaction, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer directly owned 7,693 shares in the company, valued at $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,485 shares of company stock valued at $23,414,433 over the last quarter. Company insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in OKTA. Eurizon Capital SGR S.p.A. acquired a new position in Okta in the 4th quarter valued at approximately $3,122,000. Swedbank AB lifted its position in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after buying an additional 1,007,915 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Okta during the 1st quarter valued at $2,077,000. Torque Asset Management LLC boosted its stake in shares of Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after buying an additional 83,337 shares during the period. Finally, Swiss National Bank grew its holdings 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 acquiring an additional 35,700 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Investors continue to view AI-agent growth as a potential demand catalyst for Okta’s identity-security platform. CEO Todd McKinnon has described AI agents as a new identity type, while commentary from Jim Cramer suggested that AI-related risks could make Okta’s security software more essential. Jim Cramer Says AI Could Make Okta’s Security Software More Essential
• Positive Sentiment: Cybersecurity stocks have benefited from heightened concern about AI-driven threats, helping Okta shares gain substantially during the week and reach a new 52-week high alongside other security companies. Why Shares of Okta Stock Shot Up 10% This Week
• Positive Sentiment: BTIG raised its Okta price target to $219 and maintained a buy rating, citing additional potential upside. Recent ETF data also showed approximately $142 million of net buying, indicating continued institutional interest.
• Positive Sentiment: Okta appointed Helen Riley, an AI-focused finance and operations executive, to its board after Emilie Choi’s resignation. Management said her experience could help the company capitalize on the opportunity to secure AI. Okta Names Helen Riley to Board of Directors
• Neutral Sentiment: Bank of America lifted its price target from $170 to $200 but kept a neutral rating, signaling that analysts see improved fundamentals but limited near-term upside after the stock’s sharp advance.
• Neutral Sentiment: Okta and Exclusive Networks expanded their distribution partnership in Sub-Saharan Africa, potentially broadening regional reach, though the immediate financial impact is unclear. Exclusive Networks and Okta Extend Strategic Distribution Partnership
• Negative Sentiment: Bernstein downgraded Okta and other cybersecurity stocks as concerns mounted that AI-related optimism and much of the favorable demand outlook may already be reflected in valuations. The downgrade appears to be the main reason for recent selling pressure despite a higher target price.
• Negative Sentiment: Reported insider activity has been heavily weighted toward sales, including transactions by senior executives, adding a modest sentiment headwind at a time when valuation concerns are increasing.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.