Analysts Set Okta, Inc. (NASDAQ:OKTA) PT at $103.25

Okta, Inc. (NASDAQ:OKTA) has received a consensus rating of “Moderate Buy” from the thirty-nine research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $103.25.

OKTA has been the subject of a number of recent analyst reports. BTIG Research lowered their price objective on Okta from $116.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Stephens cut their target price on Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Barclays reduced their target price on Okta from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. Stifel Nicolaus dropped their price target on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, KeyCorp cut their price target on shares of Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,836 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $79.89, for a total value of $146,678.04. Following the transaction, the insider directly owned 79,422 shares in the company, valued at approximately $6,345,023.58. This represents a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,393 shares of company stock valued at $2,664,446 in the last three months. Corporate insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

Several large investors have recently added to or reduced their stakes in OKTA. Corient Private Wealth LLC boosted its holdings in Okta by 60.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,914 shares of the company’s stock worth $1,549,000 after purchasing an additional 6,732 shares during the period. Hsbc Holdings PLC increased its stake in Okta by 12.1% during the fourth quarter. Hsbc Holdings PLC now owns 381,546 shares of the company’s stock valued at $33,038,000 after purchasing an additional 41,162 shares during the last quarter. SHP Wealth Management acquired a new stake in shares of Okta during the fourth quarter worth $27,000. Kera Capital Partners Inc. raised its holdings in shares of Okta by 57.6% during the fourth quarter. Kera Capital Partners Inc. now owns 5,401 shares of the company’s stock worth $456,000 after purchasing an additional 1,975 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Okta by 19.1% in the 4th quarter. Invesco Ltd. now owns 548,741 shares of the company’s stock worth $47,450,000 after buying an additional 88,112 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

NASDAQ:OKTA opened at $78.41 on Friday. The firm has a 50-day moving average of $83.09 and a two-hundred day moving average of $86.48. The stock has a market cap of $13.87 billion, a P/E ratio of 59.86, a PEG ratio of 3.07 and a beta of 0.79. Okta has a 1-year low of $68.77 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, equities analysts expect that Okta will post 0.42 earnings per share for the current year.

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

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.