Okta (NASDAQ:OKTA) Now Covered by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Okta (NASDAQ:OKTA) in a report released on Tuesday. The firm set an “equal weight” rating and a $76.00 price target on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.74% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Okta in a research report on Friday, December 12th. Truist Financial dropped their target price on Okta from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus decreased their price target on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group dropped their price target on Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $108.29.

Okta Stock Performance

NASDAQ:OKTA opened at $73.97 on Tuesday. The company’s 50-day simple moving average is $86.06 and its 200-day simple moving average is $87.76. Okta has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The stock has a market capitalization of $13.11 billion, a P/E ratio of 67.86, a P/E/G ratio of 2.81 and a beta of 0.79.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. Okta’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS. On average, research analysts forecast that Okta will post 0.42 EPS for the current year.

Okta declared that its board has initiated a share repurchase program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $83.47, for a total transaction of $153,250.92. Following the transaction, the insider directly owned 36,328 shares of the company’s stock, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,245 shares of company stock valued at $3,385,624. 5.68% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in Okta during the first quarter valued at approximately $225,000. NewEdge Advisors LLC grew its stake in shares of Okta by 853.4% during the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after purchasing an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Okta during the 2nd quarter worth approximately $244,000. Arkadios Wealth Advisors purchased a new position in shares of Okta during the 2nd quarter valued at approximately $501,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Okta by 572.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock valued at $54,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Jefferies set a new $105 price target and kept a Buy rating, signaling analyst conviction that shares still have meaningful upside versus the current level. Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Robert W. Baird (reported via TipRanks) maintained a Buy rating with a $125 target, reinforcing a bullish view tied to Okta’s role in identity security as AI adoption grows. Okta: Strengthening Identity Security Amid AI Adoption
• Positive Sentiment: Analyst previews (Zacks) expect Okta’s upcoming Q4 to show steady revenue growth, rising remaining performance obligations (RPO) and tailwinds from AI-security demand — all items that can support the stock on a beat or constructive guidance. Okta Set to Report Q4 Earnings: What’s in Store for the Stock?
• Neutral Sentiment: Okta announced a management presentation at an upcoming investor conference — useful for transparency and cadence but unlikely to move the stock unless new guidance or metrics are disclosed. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: Jim Cramer praised CEO Todd McKinnon’s performance but noted market skepticism that “chatbots” or new AI entrants could replace incumbent identity providers — a mixed view that keeps sentiment fragile. Jim Cramer on Okta
• Negative Sentiment: BTIG cut its price target to $90 (from $116) while keeping a Buy rating — a notable trim that signals reduced near-term expectations. BTIG lowers OKTA target
• Negative Sentiment: Cantor Fitzgerald lowered its target to $100, and BMO reduced its target to $83 and moved to Market Perform — multiple downgrades that highlight analyst caution and help explain recent downward pressure on the share price. Cantor Fitzgerald Cuts Okta BMO Capital Expects Solid Q1 Results

Okta Company Profile

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.