Jefferies Financial Group Has Lowered Expectations for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price target dropped by analysts at Jefferies Financial Group from $125.00 to $105.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 41.96% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Okta from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. TD Cowen cut their target price on shares of Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Sanford C. Bernstein reissued an “outperform” rating on shares of Okta in a research report on Monday, December 1st. Zacks Research raised Okta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Finally, Susquehanna decreased their target price on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.26.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $1.47 during trading on Monday, reaching $73.97. The stock had a trading volume of 2,460,598 shares, compared to its average volume of 2,957,811. The company has a market cap of $13.11 billion, a P/E ratio of 67.98, a PEG ratio of 2.81 and a beta of 0.77. Okta has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The business’s 50-day moving average price is $86.40 and its 200-day moving average price is $87.86.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same quarter in the prior year, the company earned $0.67 EPS. Okta’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Analysts forecast that Okta will post 0.42 EPS for the current fiscal year.

Okta announced that its Board of Directors has authorized a stock repurchase program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the completion of the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The SEC filing for this sale provides additional information. Insiders have sold 37,245 shares of company stock worth $3,385,624 in the last three months. 5.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Okta

Several large investors have recently bought and sold shares of OKTA. Root Financial Partners LLC purchased a new stake in shares of Okta in the 3rd quarter valued at about $26,000. Elevation Wealth Partners LLC lifted its stake in Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of Okta in the second quarter valued at approximately $27,000. Torren Management LLC purchased a new position in shares of Okta during the fourth quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Okta in the 3rd quarter valued at $34,000. 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.