Analysts Set Okta, Inc. (NASDAQ:OKTA) Price Target at $102.44

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned a consensus recommendation of “Moderate Buy” from the forty-one brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $112.2857.

A number of equities research analysts have recently issued reports on OKTA shares. Berenberg Bank lifted their price target on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $126.00 price target on shares of Okta in a research report on Friday. Wall Street Zen downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial raised their price target on Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company raised their price target on Okta from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s recent earnings beat and raised guidance continue to support the stock’s momentum, with several articles highlighting renewed investor optimism around its turnaround and AI-related growth potential.
• Positive Sentiment: Coverage around Okta’s president and COO emphasized the company’s view that AI will increase the need for identity and access management, reinforcing the idea that AI could be a tailwind for cybersecurity demand.
• Neutral Sentiment: Market attention remains high after the stock’s rapid recent surge, with articles asking whether OKTA is still attractive after the run-up, suggesting valuation is becoming a bigger part of the debate.
• Neutral Sentiment: Investor interest appears elevated, with multiple articles noting that Okta is one of the most watched AI/cybersecurity names right now.
• Negative Sentiment: Mizuho downgraded Okta to Neutral from Outperform and flagged valuation concerns, saying much of the upside may already be reflected in the share price. The firm also set a $125 target, below recent trading levels, which pressured the stock.

Okta Stock Performance

NASDAQ:OKTA opened at $135.32 on Friday. The stock has a fifty day moving average price of $81.09 and a two-hundred day moving average price of $83.33. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 98.06, a PEG ratio of 5.62 and a beta of 0.80. Okta has a 1 year low of $62.66 and a 1 year high of $142.35.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts predict that Okta will post 1.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Schellhase purchased 3,712 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was acquired at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the transaction, the director directly owned 3,712 shares in the company, valued at $267,412.48. This represents a ∞ increase in their position. The acquisition 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 Larissa Schwartz sold 6,377 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the transaction, the insider owned 54,825 shares of the company’s stock, valued at approximately $4,372,293.75. This represents a 10.42% 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. Over the last quarter, insiders have sold 70,884 shares of company stock valued at $5,625,648. Company insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OKTA. Root Financial Partners LLC purchased a new position in shares of Okta in the third quarter valued at $26,000. Elevation Wealth Partners LLC boosted its stake in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the last quarter. SHP Wealth Management acquired a new stake in shares of Okta during the fourth quarter valued at $27,000. Torren Management LLC acquired a new stake in shares of Okta during the fourth quarter valued at $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Okta during the third quarter valued at $34,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.