Okta (NASDAQ:OKTA) Given New $175.00 Price Target at KeyCorp

Okta (NASDAQ:OKTA) had its price objective lifted by KeyCorp from $130.00 to $175.00 in a research report report published on Friday morning, MarketBeat.com reports. KeyCorp currently has an overweight rating on the stock.

OKTA has been the subject of several other research reports. HSBC downgraded shares of Okta from a “buy” rating to a “hold” rating in a research note on Monday. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Okta in a report on Friday, May 29th. Mizuho cut Okta from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Piper Sandler upped their price objective on shares of Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Citigroup restated an “outperform” rating on shares of Okta in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.97.

Okta Trading Down 6.9%

Shares of Okta stock traded down $10.21 during trading on Friday, reaching $138.63. The company’s stock had a trading volume of 3,366,806 shares, compared to its average volume of 3,095,824. The company has a 50-day moving average price of $111.25 and a two-hundred day moving average price of $92.00. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $153.20. The firm has a market cap of $24.10 billion, a PE ratio of 100.46, a P/E/G ratio of 5.35 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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, analysts predict that Okta will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Okta

In other news, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. The trade was a 16.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the transaction, the insider owned 25,241 shares of the company’s stock, valued at $3,028,920. This trade represents a 8.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock valued at $22,534,353 in the last 90 days. 4.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its stake in shares of Okta by 825.0% during 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 period. SHP Wealth Management acquired a new position in Okta in the 4th quarter valued at $27,000. Torren Management LLC purchased a new position in shares of Okta during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Okta by 279.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. Finally, Spire Wealth Management grew its position in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: KeyBanc raised its price target on Okta to $175 from $130 and kept an overweight rating, reinforcing the bullish analyst case for the stock. Benzinga report on KeyBanc price target increase
• Positive Sentiment: Another report said Okta could benefit from rising AI-driven cyber threats, which may support demand for its identity and security platform. Zacks cybersecurity stocks article
• Positive Sentiment: Brokerage and media coverage also pointed to strong institutional interest and AI-related security demand as supportive themes for Okta shares. FXEmpire article on AI agent security and Okta
• Neutral Sentiment: Recent hedge-fund and institutional filings show mixed positioning, with several large investors adding to Okta while others reduced exposure, suggesting uneven but still meaningful institutional interest.
• Negative Sentiment: CEO Todd McKinnon sold 68,936 shares worth about $10.1 million, trimming his stake significantly, which can weigh on sentiment even though the trade was pre-planned. SEC Form 4 filing

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.