Okta (NASDAQ:OKTA) Shares Up 7.2% – Should You Buy?

Posted by George Bondi on Oct 23rd, 2026

Okta, Inc. (NASDAQ:OKTA – Get Free Report) was up 7.2% on Wednesday. The company traded as high as $206.78 and last traded at $207.9010. Approximately 1,289,951 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 3,582,025 shares. The stock had previously closed at $194.02.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Okta from $180.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. Canaccord Genuity Group lifted their price target on Okta from $115.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. BTIG Research reiterated a “buy” rating and issued a $219.00 price objective on shares of Okta in a research report on Thursday, September 24th. Truist Financial boosted their price objective on Okta from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Finally, Scotiabank reissued an “outperform” rating on shares of Okta in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.38.

Read Our Latest Stock Report on OKTA

Okta Stock Down 3.5%

The company has a market capitalization of $35.20 billion, a PE ratio of 121.28, a price-to-earnings-growth ratio of 6.49 and a beta of 0.73. The stock’s fifty day moving average price is $184.16 and its two-hundred day moving average price is $137.74.

Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. Okta’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. 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, equities research analysts forecast that Okta, Inc. will post 1.92 EPS for the current year.

Insider Transactions at Okta

In other news, CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the transaction, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at approximately $8,518,730.92. The trade was a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This represents a 84.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 137,766 shares of company stock worth $23,927,112. 4.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OKTA. Versant Capital Management Inc lifted its position in shares of Okta by 11.9% in the 3rd quarter. Versant Capital Management Inc now owns 563 shares of the company’s stock worth $118,000 after purchasing an additional 60 shares during the period. Washington Trust Advisors Inc. increased its position in shares of Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after buying an additional 77 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Okta by 1.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,817 shares of the company’s stock valued at $1,007,000 after buying an additional 78 shares during the period. Novem Group raised its stake in Okta by 5.5% in the third quarter. Novem Group now owns 1,795 shares of the company’s stock worth $375,000 after buying an additional 93 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new position in Okta in the third quarter worth about $26,000. 86.64% of the stock is currently owned by institutional investors.

Okta Company Profile

(Get Free Report)

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.