Okta, Inc. (NASDAQ:OKTA – Get Free Report) was the recipient of some unusual options trading activity on Friday. Traders acquired 40,228 call options on the stock. This is an increase of approximately 227% compared to the average daily volume of 12,290 call options.
Wall Street Analysts Forecast Growth
OKTA has been the topic of several analyst reports. BTIG Research lifted their price target on shares of Okta from $105.00 to $119.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group restated a “buy” rating and set a $120.00 target price on shares of Okta in a research report on Friday. DA Davidson set a $130.00 target price on shares of Okta in a research report on Friday. Barclays boosted their target price on shares of Okta from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, KeyCorp upped their price objective on shares of Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $109.09.
Read Our Latest Analysis on Okta
Key Headlines Impacting Okta
- Positive Sentiment: Okta beat Wall Street estimates on both revenue and earnings, reporting $765 million in revenue and $0.91 in adjusted EPS, while also highlighting 11.2% year-over-year sales growth and improved operating profitability. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
- Positive Sentiment: Management lifted full-year and next-quarter guidance, signaling confidence in continued demand and execution; investors are viewing the outlook as a key reason the stock is re-rating higher. Okta shares surge after first-quarter earnings beat, raised guidance
- Positive Sentiment: Several analysts raised price targets after the report, including RBC, Truist, Berenberg, Oppenheimer, BTIG, Needham, BMO, JPMorgan, and others, reflecting improving sentiment around Okta’s enterprise momentum and AI-related identity opportunity. Okta Price Target Raised to $140 on Improving Fundamentals, AI-Driven Growth, and Conservative Upside Potential
- Positive Sentiment: Analysts and company commentary pointed to rising demand for identity security tied to AI agents, which is becoming an important growth narrative for Okta. Okta tops first-quarter results on agentic AI demand
- Neutral Sentiment: Okta also announced an upcoming investor conference appearance, which is supportive for visibility but not a major near-term catalyst by itself. Okta to Present at Upcoming Investor Conferences
Okta Stock Up 27.1%
OKTA stock traded up $25.65 during trading hours on Friday, hitting $120.37. The company’s stock had a trading volume of 7,764,966 shares, compared to its average volume of 3,475,441. The company has a market capitalization of $21.29 billion, a PE ratio of 92.13, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. Okta has a 12 month low of $62.66 and a 12 month high of $120.43. The stock has a 50 day moving average price of $79.01 and a two-hundred day moving average price of $82.69.
Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. Okta’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts expect that Okta will post 1.61 earnings per share for the current year.
Insider Activity
In related news, Director David Schellhase purchased 3,712 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was purchased at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the purchase, the director owned 3,712 shares of the company’s stock, valued at approximately $267,412.48. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, 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 Okta stock in a transaction that occurred 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 transaction, the executive directly owned 4,364 shares in the company, valued at approximately $339,475.56. The trade was a 84.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 70,884 shares of company stock valued at $5,625,648. Insiders own 4.61% of the company’s stock.
Institutional Investors Weigh In On Okta
A number of hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in Okta by 7.0% during the 1st quarter. Glenmede Trust Co. NA now owns 540,947 shares of the company’s stock worth $42,578,000 after acquiring an additional 35,324 shares during the last quarter. Bank of America Corp DE grew its holdings in Okta by 0.4% during the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after acquiring an additional 6,533 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Okta by 133.4% during the 1st quarter. Arkadios Wealth Advisors now owns 12,295 shares of the company’s stock worth $968,000 after acquiring an additional 7,028 shares during the last quarter. South Dakota Investment Council grew its holdings in Okta by 11.1% during the 1st quarter. South Dakota Investment Council now owns 47,783 shares of the company’s stock worth $3,761,000 after acquiring an additional 4,777 shares during the last quarter. Finally, IFS Group LLC bought a new stake in Okta during the 1st quarter worth about $375,000. Institutional investors and hedge funds own 86.64% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Okta
- Salesforce Stock Finds Support as AI Momentum Builds
- Dollar Tree Keeps Winning After Family Dollar Divorce
- Apple’s Agentic AI Plans Could Be Its Biggest Growth Story Yet
- Palomar’s High-Risk Insurance Strategy Is Paying Off Big
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.
