Okta (NASDAQ:OKTA) Price Target Raised to $245.00

Okta (NASDAQ:OKTA) had its price objective upped by Morgan Stanley from $200.00 to $245.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also commented on the company. BTIG Research reissued a “buy” rating and set a $219.00 price objective on shares of Okta in a report on Thursday, September 24th. Raymond James Financial lifted their target price on Okta from $115.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Truist Financial upped their price target on Okta from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Guggenheim raised their price objective on Okta from $188.00 to $227.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, Bank of America lifted their price objective on shares of Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus target price of $200.72.

Okta Stock Up 1.7%

Shares of NASDAQ:OKTA opened at $212.63 on Tuesday. Okta has a twelve month low of $62.66 and a twelve month high of $213.86. The stock’s 50 day moving average is $163.94 and its 200-day moving average is $123.66. The firm has a market capitalization of $37.17 billion, a price-to-earnings ratio of 128.09, a PEG ratio of 6.51 and a beta of 0.73.

Okta (NASDAQ:OKTA) last posted its quarterly 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. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. During the same quarter last year, the firm posted $0.91 EPS. Okta’s revenue was up 10.6% compared to the same quarter last year. 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 research analysts anticipate that Okta will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In related news, insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the transaction, the insider directly owned 18,668 shares of the company’s stock, valued at approximately $3,427,071.44. The trade was a 25.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. The trade was a 84.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 206,702 shares of company stock worth $34,034,508 in the last quarter. 4.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA grew its holdings in Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after purchasing an additional 550,328 shares during the period. Norges Bank purchased a new stake in Okta in the fourth quarter worth $175,193,000. Finally, Swedbank AB increased its position in Okta by 21.9% in the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after buying an additional 397,507 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Morgan Stanley raised its price target for Okta to $245, citing a potential AI-driven growth catalyst. The upgrade appears to be the main near-term support for the stock, as investors assess whether Okta can expand beyond its core identity-security business. Okta Stock Rises After Morgan Stanley Raises Price Target to $245
• Positive Sentiment: Analyst coverage remains broadly constructive, with Wall Street’s average recommendation characterized as favorable. This may reinforce demand for the shares following their strong performance. Wall Street Analysts Think Okta Is a Good Investment: Is It?
• Neutral Sentiment: TD Cowen maintained a Hold rating and a $200 price target. The firm sees strengthening identity-security momentum and an emerging AI opportunity, but considers the AI thesis to be at an early stage. Okta: Strengthening Identity Momentum and Early-Stage AI Story
• Neutral Sentiment: Analysts’ consensus target price is approximately $200.72, below the stock’s recent trading level near $213. That suggests the recent rally has outpaced the average published valuation, even though Morgan Stanley’s $245 target provides a more bullish counterpoint. Okta Consensus Target Price
• Negative Sentiment: At roughly 128 times earnings, Okta carries an elevated valuation, leaving the stock sensitive to any disappointment in growth or delays in converting AI initiatives into material revenue. A comparison with Rubrik also highlights intensifying competition for enterprise security spending. Okta Versus Rubrik

About Okta

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.