Okta (NASDAQ:OKTA) Given New $90.00 Price Target at BMO Capital Markets

Okta (NASDAQ:OKTA) had its target price cut by stock analysts at BMO Capital Markets from $112.00 to $90.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 9.93% from the stock’s previous close.

A number of other research firms also recently weighed in on OKTA. Mizuho cut their target price on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, November 17th. The Goldman Sachs Group set a $117.00 price objective on shares of Okta in a research report on Wednesday. Citigroup reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Needham & Company LLC dropped their target price on shares of Okta from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Roth Capital reaffirmed a “buy” rating on shares of Okta in a report on Wednesday. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $113.78.

Okta Stock Up 1.5%

Shares of Okta stock opened at $81.87 on Wednesday. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 96.32, a price-to-earnings-growth ratio of 3.96 and a beta of 0.77. Okta has a twelve month low of $76.35 and a twelve month high of $127.57. The company has a 50-day simple moving average of $87.06 and a two-hundred day simple moving average of $94.08.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, sell-side analysts anticipate that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 3,348 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total value of $301,889.16. Following the completion of the transaction, the insider directly owned 39,155 shares in the company, valued at approximately $3,530,606.35. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the sale, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Several hedge funds have recently added to or reduced their stakes in OKTA. Smartleaf Asset Management LLC lifted its stake in shares of Okta by 12.6% in the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock worth $89,000 after acquiring an additional 92 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after buying an additional 113 shares during the period. Norden Group LLC boosted its position in Okta by 3.7% during the second quarter. Norden Group LLC now owns 3,260 shares of the company’s stock valued at $326,000 after acquiring an additional 116 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Okta by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock worth $113,000 after acquiring an additional 120 shares during the period. Finally, Simon Quick Advisors LLC raised its position in shares of Okta by 2.5% in the 2nd quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock worth $511,000 after acquiring an additional 126 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.