Okta (NASDAQ:OKTA – Free Report) had its target price boosted by BMO Capital Markets from $187.00 to $230.00 in a report released on Friday morning, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.
OKTA has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Okta from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Susquehanna lifted their price target on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Royal Bank Of Canada boosted their price target on Okta from $195.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday. HSBC downgraded Okta from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Oppenheimer raised their price objective on Okta from $190.00 to $227.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $198.41.
Get Our Latest Research Report on Okta
Okta Stock Performance
Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. During the same period in the prior year, the company posted $0.91 earnings per share. Okta’s revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities research analysts predict that Okta will post 1.92 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Todd McKinnon sold 68,936 shares of Okta stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction 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 trade represents a 84.28% 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. Over the last 90 days, insiders sold 206,702 shares of company stock valued at $34,034,508. 4.61% of the stock is currently owned by corporate insiders.
Institutional Trading of Okta
Hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. acquired a new stake in Okta in the second quarter valued at approximately $1,025,000. Andra AP fonden acquired a new position in shares of Okta during the second quarter worth $961,000. Junto Capital Management LP bought a new position in shares of Okta in the 2nd quarter valued at $45,486,000. National Pension Service lifted its stake in shares of Okta by 23.2% in the 2nd quarter. National Pension Service now owns 43,893 shares of the company’s stock valued at $5,989,000 after acquiring an additional 8,257 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Okta by 521.5% during the 2nd quarter. NewEdge Advisors LLC now owns 2,828 shares of the company’s stock valued at $386,000 after acquiring an additional 2,373 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.
Key Stories Impacting Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: AI-agent opportunity strengthens the growth story. Okta unveiled Agent SSO, runtime enforcement, an AI-agent gateway, lifecycle-management tools and an “AI kill switch.” The products are designed to secure and govern enterprise AI agents, potentially expanding Okta’s market beyond traditional identity software. BofA raises Okta price target on AI-agent positioning
- Positive Sentiment: Analyst support remains strong. BofA raised its price target to $220, while RBC, Wells Fargo, DA Davidson, Guggenheim and BMO also issued higher targets, generally citing Okta’s positioning in AI identity and the possibility of renewed growth. Analysts issue bullish signals on Okta
- Neutral Sentiment: Recent earnings were solid but not a new catalyst. Okta’s latest quarterly earnings and revenue exceeded consensus estimates, with revenue up 10.6% year over year. However, the conference did not include a major financial update, leaving investors without clear evidence of when AI-agent products will materially accelerate results.
- Negative Sentiment: Sell-the-news and valuation concerns are pressuring the stock. Okta’s shares had climbed sharply and were near recent highs, making them vulnerable to profit-taking. Mizuho retained a Neutral view pending proof that growth can sustainably reaccelerate, while Jefferies identified customer confusion as an adoption hurdle. The elevated valuation also leaves limited room for execution disappointments. Mizuho remains neutral on Okta
- Negative Sentiment: Insider selling adds a modest overhang. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The sale occurred under a pre-arranged Rule 10b5-1 plan, which reduces its significance but may still weigh on sentiment. SEC filing for Todd McKinnon stock sale
Okta Company Profile
Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.
The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.
Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.
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