Okta (NASDAQ:OKTA – Get Free Report) had its target price lifted by Citigroup from $87.00 to $105.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential downside of 14.84% from the stock’s previous close.
OKTA has been the topic of several other reports. Wells Fargo & Company boosted their target price on Okta from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday. Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, April 16th. Arete Research set a $127.00 target price on Okta and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen cut their target price on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, ten 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 an average target price of $110.26.
Check Out Our Latest Stock Analysis on OKTA
Okta Price Performance
Okta (NASDAQ:OKTA – Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last 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. On average, research analysts predict that Okta will post 1.61 earnings per share for the current year.
Insider Activity at Okta
In other news, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction dated 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 owned 4,364 shares in the company, valued at approximately $339,475.56. This represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the sale, the chief executive officer owned 97,083 shares of the company’s stock, valued at $7,864,693.83. This trade represents a 10.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 70,884 shares of company stock valued at $5,625,648. Corporate insiders own 4.61% of the company’s stock.
Institutional Investors Weigh In On Okta
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after acquiring an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co grew its stake in Okta by 40.1% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after acquiring an additional 15,058 shares during the period. Congress Asset Management Co. grew its stake in Okta by 23.0% in the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock worth $8,480,000 after acquiring an additional 18,325 shares during the period. Finally, Swedbank AB grew its stake in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after acquiring an additional 1,007,915 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.
Okta News Roundup
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Okta beat Wall Street’s Q1 estimates, reporting $0.91 in adjusted EPS and $765 million in revenue, both above consensus. Okta Shares Climb After Strong Q1 Results, Forward Guidance
- Positive Sentiment: The company raised guidance for fiscal 2027, with next-quarter EPS outlook of $0.95-$0.97 and full-year EPS guidance of $3.79-$3.87, signaling confidence in continued growth. View Press Release
- Positive Sentiment: Multiple analysts lifted price targets after the report, including BTIG, Needham, JPMorgan, Morgan Stanley, RBC, Oppenheimer, and Berenberg, reinforcing the post-earnings rally. Okta Stock Surges After Surprising Q1 Results, FY27 Boost
- Positive Sentiment: Management highlighted stronger enterprise momentum and AI-related demand, which investors view as an emerging growth tailwind for identity tools. Okta tops first-quarter results on agentic AI demand
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.
Featured Articles
- Five stocks we like better than Okta
- Shares Fall, Targets Rise—Markets and Analysts Diverge on Synopsys
- 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
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.
