Wall Street Zen upgraded shares of Okta (NASDAQ:OKTA – Free Report) from a hold rating to a buy rating in a research report released on Sunday,Wall Street Zen reports.
A number of other research analysts have also commented on the company. BTIG Research restated a “buy” rating and issued a $219.00 target price on shares of Okta in a research note on Thursday, September 24th. DA Davidson lifted their price target on shares of Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Jefferies Financial Group lifted their price target on shares of Okta from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Susquehanna boosted their price target on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Finally, New Street Research set a $235.00 price objective on shares of Okta in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.72.
Check Out Our Latest Research Report on OKTA
Okta Stock Performance
Okta (NASDAQ:OKTA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Research analysts forecast that Okta will post 1.92 earnings per share for the current fiscal year.
Insider Activity at Okta
In other Okta news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the sale, the chief financial officer directly owned 7,693 shares in the company, valued at $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the transaction, the insider owned 18,668 shares of the company’s stock, valued at $3,427,071.44. This represents a 25.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 206,702 shares of company stock valued at $34,034,508 in the last 90 days. 4.61% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Okta
Several large investors have recently made changes to their positions in OKTA. Versant Capital Management Inc boosted its position in Okta by 11.9% during the third quarter. Versant Capital Management Inc now owns 563 shares of the company’s stock valued at $118,000 after purchasing an additional 60 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of Okta during the 3rd quarter worth approximately $26,000. CX Institutional increased its position in shares of Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company’s stock worth $359,000 after purchasing an additional 127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Okta by 10.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock worth $105,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.
Okta Company Profile
Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.
Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.
Featured Articles
- Five stocks we like better than Okta
- Could Nike’s Brutal Sell-Off Finally Be Running Out of Steam?
- The AI Buildout Needs Power It Cannot Get: 4 Energy Stocks Already Have It
- McDonald’s Is Undergoing a Massive New Growth Strategy. Can It Win Back Consumers?
- MGM Resorts Stock Sinks After Diller Deal Collapse: Overreaction or Warning?
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.
