Brokerages Set Okta, Inc. (NASDAQ:OKTA) PT at $112.56

Shares of Okta, Inc. (NASDAQ:OKTA) have received an average rating of “Moderate Buy” from the thirty-nine research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and twenty-five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $112.5588.

A number of brokerages have weighed in on OKTA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. 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. Mizuho decreased their target price on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday. Roth Mkm reissued a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Finally, Guggenheim restated a “buy” rating and set a $138.00 price target on shares of Okta in a report on Wednesday, December 3rd.

Okta Stock Performance

Okta stock opened at $74.29 on Wednesday. The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 68.16, a PEG ratio of 3.28 and a beta of 0.77. Okta has a 52-week low of $73.74 and a 52-week high of $127.57. The firm has a 50 day moving average price of $88.12 and a two-hundred day moving average price of $88.63.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period in the prior year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities research analysts predict that Okta will post 0.42 EPS for the current fiscal year.

Okta declared that its board has initiated a share buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the transaction, the chief financial officer owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This represents a 6.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 11,286 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,245 shares of company stock valued at $3,385,624. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Steward Partners Investment Advisory LLC raised its position in shares of Okta by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after purchasing an additional 113 shares during the period. Spire Wealth Management grew its position in Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. Simon Quick Advisors LLC increased its stake in Okta by 2.5% during the 2nd quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock valued at $511,000 after purchasing an additional 126 shares in the last quarter. Allworth Financial LP raised its holdings in Okta by 6.4% during the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after buying an additional 135 shares during the last quarter. Finally, Choreo LLC lifted its stake in shares of Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after buying an additional 140 shares in the last quarter. 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.