JPMorgan Chase & Co. Increases Okta (NASDAQ:OKTA) Price Target to $190.00

Okta (NASDAQ:OKTA) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $165.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.96% from the stock’s previous close.

OKTA has been the topic of a number of other research reports. Citizens Jmp raised their price objective on Okta from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Thursday. Sanford C. Bernstein increased their target price on Okta from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Okta in a research note on Friday, May 29th. Wall Street Zen cut shares of Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Morgan Stanley increased their price objective on shares of Okta from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.34.

Okta Price Performance

Okta stock traded up $38.37 during midday trading on Thursday, hitting $172.79. The company’s stock had a trading volume of 13,407,728 shares, compared to its average volume of 3,541,858. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 125.26, a PEG ratio of 4.70 and a beta of 0.77. Okta has a 1-year low of $62.66 and a 1-year high of $174.85. The company has a 50-day moving average price of $139.27 and a two-hundred day moving average price of $104.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’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. Sell-side analysts forecast that Okta will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at $5,642,524.08. This trade represents a 64.17% 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. In the last three months, insiders have sold 165,347 shares of company stock worth $21,827,342. Insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in shares of Okta by 13,755.2% during the second quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock worth $4,949,942,000 after purchasing an additional 36,014,770 shares during the last quarter. First Trust Advisors LP raised its holdings in Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after buying an additional 1,485,963 shares during the period. Geode Capital Management LLC boosted its position in Okta by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after buying an additional 57,605 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Okta by 2.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after acquiring an additional 69,653 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q2 results beat expectations: Okta reported revenue of $805 million, up 10.6% year over year and above the roughly $793 million consensus estimate. Adjusted earnings of $1.05 per share also exceeded expectations of $0.96. Subscription revenue increased 12%, while cash flow, backlog and bookings trends provided additional support. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: Guidance was raised: Management now expects fiscal 2027 revenue of approximately $3.22 billion to $3.23 billion, compared with its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue and EPS guidance also came in above analyst estimates, signaling better near-term execution. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: Analyst sentiment improved: Several firms raised price targets following the report, including Morgan Stanley and Truist to $200, RBC to $195 and Oppenheimer to $190. Analysts cited stronger core identity demand, new annual contract value and the long-term opportunity in securing AI agents. Analysts see further upside as Okta stock hits YTD high on Q2 earnings
• Neutral Sentiment: AI opportunity is promising but early: Okta launched Agent SSO to manage access for enterprise AI agents and reduce dependence on risky static API keys. However, management indicated that AI security is not yet a major revenue contributor, making the opportunity more dependent on future adoption. Okta Launches Agent SSO For Enterprise AI Access
• Negative Sentiment: Valuation and execution risks remain: After the rally, Okta trades at a demanding valuation, while its roughly 10%–11% projected fiscal 2027 growth leaves less room for disappointing bookings, margins or AI monetization. Some commentary also flagged slower growth and weakness in a key bookings measure as risks.

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.