Okta (NASDAQ:OKTA – Get Free Report) had its price target upped by Barclays from $170.00 to $180.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 5.52% from the company’s current price.
Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company raised shares of Okta from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $180.00 in a report on Monday, August 17th. UBS Group increased their price target on shares of Okta from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on Okta from $166.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen increased their target price on Okta from $160.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Berenberg Bank boosted their price target on Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.16.
Check Out Our Latest Analysis on OKTA
Okta Stock Up 26.9%
Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, analysts predict that Okta will post 1.75 earnings per share for the current fiscal year.
Insider Activity at Okta
In related news, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares in the company, valued at $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction dated 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 directly owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 165,347 shares of company stock worth $21,827,342. Company insiders own 4.61% of the company’s stock.
Hedge Funds Weigh In On Okta
Several large investors have recently bought and sold shares of OKTA. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth $27,000. Washington Trust Advisors Inc. grew its stake in shares of Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after purchasing an additional 77 shares during the period. Torren Management LLC bought a new stake in Okta in the fourth quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Okta by 279.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after acquiring an additional 218 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after acquiring an additional 322 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Quarterly beat and higher guidance: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus and revenue of $805 million versus expectations of approximately $793 million. Revenue increased 10.6% year over year. Management raised fiscal 2027 revenue guidance to roughly $3.216 billion-$3.226 billion, from $3.19 billion-$3.21 billion previously, and forecast third-quarter revenue of $813 million-$817 million, above analyst estimates. CNBC earnings report
- Positive Sentiment: Core identity momentum: Management highlighted stronger identity bookings, record non-fourth-quarter bookings and growing contributions from newer products. The earnings call suggested core identity growth is currently a more dependable driver than monetization of AI-specific offerings. Zacks earnings-call analysis
- Positive Sentiment: AI-related demand: Customers are investing more in identity and security controls as AI adoption creates new risks. Okta also cited traction for AI-agent security and key AI-related deals, supporting the possibility of a significant future market opportunity. CNBC cybersecurity rally report
- Positive Sentiment: Broad analyst support: Oppenheimer, RBC, Morgan Stanley, Truist, Needham, Cantor Fitzgerald, KeyCorp, BTIG and DA Davidson all raised price targets, generally to $187-$200, while maintaining positive ratings. Bank of America upgraded Okta from “underperform” to “neutral” with a $170 target. Benzinga analyst-revisions report
- Neutral Sentiment: AI opportunity remains early: Okta’s AI-agent security business is promising but is not yet a major revenue contributor, leaving future monetization dependent on product adoption and execution.
- Neutral Sentiment: Reports said Palo Alto Networks previously held acquisition discussions with Okta, but the talks stalled over valuation; there is no indication of a current transaction. Yahoo Finance acquisition report
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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