Okta (NASDAQ:OKTA) Price Target Raised to $200.00 at Cantor Fitzgerald

Okta (NASDAQ:OKTA) had its price target lifted by investment analysts at Cantor Fitzgerald from $170.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 48.79% from the company’s previous close.

Several other analysts have also recently commented on OKTA. JPMorgan Chase & Co. boosted their price target on shares of Okta from $120.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. UBS Group raised their price objective on Okta from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Weiss Ratings raised Okta from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Susquehanna increased their price target on Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group set a $200.00 price target on Okta in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus target price of $148.74.

Okta Stock Up 2.9%

Shares of OKTA stock opened at $134.42 on Thursday. The company has a 50 day moving average price of $139.27 and a 200-day moving average price of $104.50. Okta has a 52 week low of $62.66 and a 52 week high of $157.00. The firm has a market capitalization of $23.36 billion, a PE ratio of 97.41, a P/E/G ratio of 4.70 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Analysts anticipate that Okta will post 1.75 earnings per share for the current year.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 68,936 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the transaction, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,347 shares of company stock worth $21,827,342 over the last quarter. 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 business. Washington Trust Advisors Inc. increased its holdings in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after acquiring an additional 77 shares during the last quarter. CX Institutional raised its position in shares of Okta by 5.1% in the second quarter. CX Institutional now owns 2,633 shares of the company’s stock valued at $359,000 after purchasing an additional 127 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Okta by 10.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock valued at $105,000 after purchasing an additional 129 shares during the period. SteelPeak Wealth LLC lifted its stake in shares of Okta by 2.8% in the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock worth $407,000 after buying an additional 140 shares during the last quarter. Finally, Utah Retirement Systems lifted its stake in shares of Okta by 0.6% in the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock worth $2,473,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly results exceeded expectations. Okta reported adjusted earnings of $1.05 per share versus the $0.96 analyst consensus, while revenue increased 10.6% year over year to $805 million, topping estimates of $793 million. Okta Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Raised guidance provides an additional catalyst. Okta now expects fiscal 2027 revenue of approximately $3.216 billion to $3.226 billion, representing 10% to 11% growth and above its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue guidance of $813 million to $817 million and EPS guidance of $0.92 to $0.94 also exceeded Wall Street expectations. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: AI-related demand is strengthening Okta’s growth narrative. Management highlighted increasing adoption of AI agents, new products contributing roughly 30% of bookings, record non-fourth-quarter bookings and partner-led sales. Investors view identity controls as increasingly important for securing AI-driven workflows. Okta and CrowdStrike Stocks Jump After Earnings
• Neutral Sentiment: Analyst support improved, but valuation remains a consideration. Robert W. Baird reiterated a Buy rating and set a $185 price target. However, Okta’s elevated valuation—including a P/E ratio near 97—may limit further gains if growth or guidance begins to slow. Okta Buy Rating and Raised Price Target

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.