Okta (NASDAQ:OKTA) Upgraded by Capital One Financial to Strong-Buy Rating

Capital One Financial upgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Zacks Research cut Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Susquehanna increased their target price on Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Piper Sandler raised their target price on Okta from $82.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wolfe Research initiated coverage on Okta in a research report on Thursday, April 16th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets upped their price target on Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Okta Trading Down 2.1%

Shares of OKTA stock opened at $147.74 on Thursday. The company’s fifty day simple moving average is $116.91 and its 200-day simple moving average is $93.68. Okta has a 52 week low of $62.66 and a 52 week high of $157.00. The company has a market cap of $25.68 billion, a PE ratio of 107.06, a P/E/G ratio of 5.43 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue 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. Equities research analysts expect that Okta will post 1.75 EPS for the current fiscal year.

Insider Transactions at Okta

In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director owned 9,192 shares in the company, valued at $781,320. This trade represents a 21.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,224 shares of company stock valued at $22,534,353 in the last three months. 4.61% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the stock. Generali Investments Management Co LLC increased its stake in shares of Okta by 13.1% in the second quarter. Generali Investments Management Co LLC now owns 3,005 shares of the company’s stock worth $410,000 after buying an additional 349 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake in Okta by 2,395.8% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 146,156 shares of the company’s stock valued at $19,943,000 after acquiring an additional 140,300 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Okta by 351.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 216,191 shares of the company’s stock worth $29,499,000 after acquiring an additional 168,291 shares in the last quarter. Fulton Bank N.A. acquired a new position in Okta during the 2nd quarter worth $365,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Okta by 1.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,241 shares of the company’s stock worth $1,261,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Capital One upgraded Okta (OKTA), which can signal improving Wall Street confidence in the company’s outlook and help support the stock. Palo Alto Networks, Okta upgraded at Capital One
• Positive Sentiment: Okta won partner recognition tied to its identity security push in cloud and AI, reinforcing its growth narrative in high-demand enterprise security markets. Okta (OKTA) Wins Partner Recognition For Identity Security Push In Cloud And AI
• Positive Sentiment: Okta was highlighted in broader cybersecurity coverage as a beneficiary of rising AI-driven security demand and increased enterprise spending on cyber defense. Cybersecurity Space is Buzzing on Recent Catalysts: 3 Top Picks
• Positive Sentiment: Okta also appeared in an article favoring cybersecurity stocks as AI changes tech defense, suggesting the company remains a relevant long-term play in a favored sector. Top Cybersecurity Stocks to Buy Now as AI Changes Tech Defense
• Neutral Sentiment: Okta was mentioned among stocks moving after an IBM warning, but the headline appears to reflect sector rotation rather than a company-specific problem. Dell, HP Enterprise, and Okta are among the group seeing gains after IBM warning
• Negative Sentiment: One market note said Okta may be fully priced after a 114% three-year run, which could temper enthusiasm if investors worry the upside is already reflected in the valuation. Okta (OKTA) Stock May Be Fully Priced Following Its 114% Run

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.