Okta (NASDAQ:OKTA) Receives Buy Rating from DA Davidson

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $140.00 target price on the stock. DA Davidson’s price objective points to a potential upside of 61.09% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Citigroup cut their price target on shares of Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $120.00 target price on shares of Okta in a report on Wednesday. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and lifted their price target for the company from $100.00 to $125.00 in a research report on Monday, August 25th. Jefferies Financial Group set a $90.00 price target on Okta and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Finally, Piper Sandler lowered their price target on Okta from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday. Twenty-three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $111.59.

Okta Trading Up 6.2%

Shares of Okta stock traded up $5.04 during trading on Wednesday, reaching $86.91. The company’s stock had a trading volume of 7,699,498 shares, compared to its average volume of 3,392,403. The company has a 50-day moving average price of $87.06 and a two-hundred day moving average price of $94.08. Okta has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The firm has a market cap of $15.22 billion, a PE ratio of 101.78, a P/E/G ratio of 3.96 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.06. The company had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. 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, analysts predict that Okta will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $90.17, for a total value of $301,889.16. Following the sale, the insider owned 39,155 shares of the company’s stock, valued at $3,530,606.35. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,975 shares of company stock worth $6,011,126. 5.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its stake in Okta by 15.6% during the first quarter. Cetera Investment Advisers now owns 22,396 shares of the company’s stock worth $2,357,000 after acquiring an additional 3,025 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares during the last quarter. Commerce Bank boosted its position in Okta by 18.7% during the 1st quarter. Commerce Bank now owns 4,434 shares of the company’s stock valued at $467,000 after purchasing an additional 700 shares during the period. PNC Financial Services Group Inc. grew its stake in Okta by 3.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,598 shares of the company’s stock worth $694,000 after buying an additional 236 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Okta during the 1st quarter worth $521,000. Institutional investors own 86.64% of the company’s stock.

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.