Okta (NASDAQ:OKTA – Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $103.00 to $114.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.17% from the stock’s previous close.
OKTA has been the subject of several other research reports. KeyCorp raised their target price on shares of Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Jefferies Financial Group lowered their target price on shares of Okta from $125.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 2nd. TD Cowen lowered their target price on shares of Okta from $115.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. HSBC upgraded shares of Okta to a “buy” rating in a report on Thursday, April 16th. Finally, BMO Capital Markets raised shares of Okta from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $83.00 to $97.00 in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus price target of $102.44.
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Okta Price Performance
Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts expect that Okta will post 1.61 earnings per share for the current fiscal year.
Insider Activity at Okta
In other Okta news, CEO Todd Mckinnon sold 11,263 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer directly owned 97,083 shares in the company, valued at $7,864,693.83. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larissa Schwartz sold 6,377 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total value of $508,565.75. Following the transaction, the insider owned 54,825 shares in the company, valued at $4,372,293.75. The trade was a 10.42% 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 sold a total of 70,884 shares of company stock worth $5,625,648 over the last three months. Corporate insiders own 4.61% of the company’s stock.
Institutional Investors Weigh In On Okta
Large investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in shares of Okta in the 3rd quarter valued at about $26,000. Elevation Wealth Partners LLC raised its holdings in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Okta in the 4th quarter valued at about $27,000. Torren Management LLC bought a new stake in shares of Okta in the 4th quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the 3rd quarter valued at about $34,000. Institutional investors own 86.64% of the company’s stock.
Trending Headlines about Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Arete Research upgraded Okta from Sell to Buy and set a $127 price target, citing expectations for a modest beat-and-raise quarter. Arete Upgrades Okta, Inc. (OKTA) Rating to Buy
- Positive Sentiment: Multiple recent analyst notes have turned constructive, with price-target hikes from firms including Cantor Fitzgerald, BTIG, KeyBanc, and others, reinforcing optimism around Okta’s execution and workforce identity demand.
- Positive Sentiment: Pre-earnings trading appears to be boosting the stock as investors look for strong results and guidance, supported by themes like AI-driven security demand, rising remaining performance obligations, and partner growth. Earnings To Watch: Okta (OKTA) Reports Q1 Results Tomorrow
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.
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