Okta (NASDAQ:OKTA – Get Free Report) had its price objective hoisted by analysts at Royal Bank Of Canada from $108.00 to $122.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 28.80% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Piper Sandler cut their price target on Okta from $100.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Arete Research set a $127.00 target price on Okta and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus cut their target price on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 5th. BTIG Research boosted their price target on shares of Okta from $105.00 to $119.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Berenberg Bank decreased their price target on shares of Okta from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.03.
Check Out Our Latest Report on OKTA
Okta Trading Up 5.8%
Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter in the previous year, the company earned $0.86 EPS. Okta’s revenue for the quarter 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 predict that Okta will post 1.61 earnings per share for the current fiscal year.
Insider Activity at Okta
In other news, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was bought at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the purchase, the director directly owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the sale, the executive directly owned 4,364 shares in the company, valued at approximately $339,475.56. This represents a 84.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,884 shares of company stock worth $5,625,648 in the last ninety days. Corporate insiders own 4.61% of the company’s stock.
Institutional Trading of Okta
A number of hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management raised its stake in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock valued at $105,000 after purchasing an additional 129 shares in the last quarter. Allworth Financial LP increased its holdings in Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after purchasing an additional 135 shares in the last quarter. Choreo LLC raised its position in Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after purchasing an additional 140 shares during the period. Finally, SteelPeak Wealth LLC lifted its stake in shares of Okta by 2.8% during the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock worth $407,000 after purchasing an additional 140 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
More Okta News
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Okta beat Q1 expectations with revenue of $765 million and adjusted EPS of $0.91, topping consensus and showing 11.2% year-over-year revenue growth. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
- Positive Sentiment: Management issued Q2 and full-year FY2027 guidance above or in line with estimates, reinforcing confidence in execution and future growth. Okta earnings report and conference call materials
- Positive Sentiment: Multiple firms raised targets after the earnings release, including JPMorgan to $114, BTIG to $119, Needham to $120, BMO to $120, Mizuho to $110, and Oppenheimer to $125, signaling stronger Street conviction. Analyst price target updates
- Positive Sentiment: Analysts highlighted improving enterprise momentum and AI-driven identity demand, which could expand Okta’s long-term market opportunity. Okta to Present at Upcoming Investor Conferences
- Neutral Sentiment: Okta announced it will present at upcoming investor conferences, which keeps management in front of investors but is not, by itself, a new operating catalyst. Okta to Present at Upcoming Investor Conferences
About Okta
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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