TD Cowen Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price objective upped by stock analysts at TD Cowen from $160.00 to $175.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 2.59% from the stock’s previous close.

A number of other research firms also recently weighed in on OKTA. Evercore reaffirmed an “outperform” rating and set a $185.00 price target on shares of Okta in a research note on Thursday. DA Davidson boosted their price objective on Okta from $165.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein upped their target price on Okta from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC lifted their price target on shares of Okta from $140.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays boosted their price target on shares of Okta from $120.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average target price of $166.16.

Okta Stock Up 26.9%

OKTA traded up $36.16 during midday trading on Thursday, hitting $170.59. The company had a trading volume of 8,078,619 shares, compared to its average volume of 3,507,806. The stock’s 50 day moving average price is $139.27 and its 200 day moving average price is $104.50. Okta has a 52 week low of $62.66 and a 52 week high of $170.99. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 123.41, a PEG ratio of 4.70 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings data 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. The company had revenue of $805.00 million for 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 business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Research analysts predict that Okta will post 1.75 EPS for the current year.

Insider Buying and Selling

In other news, CEO Todd Mckinnon sold 68,936 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the transaction, the chief financial officer directly owned 119,680 shares in the company, valued at approximately $14,032,480. The trade was a 35.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 165,347 shares of company stock worth $21,827,342 over the last three months. Company insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position 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 valued at $4,949,942,000 after purchasing an additional 36,014,770 shares in the last quarter. First Trust Advisors LP increased its stake 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 increased its stake in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 69,653 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and higher guidance: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus and revenue of $805 million versus expectations of approximately $793 million. Revenue increased 10.6% year over year. Management raised fiscal 2027 revenue guidance to roughly $3.216 billion-$3.226 billion, from $3.19 billion-$3.21 billion previously, and forecast third-quarter revenue of $813 million-$817 million, above analyst estimates. CNBC earnings report
• Positive Sentiment: Core identity momentum: Management highlighted stronger identity bookings, record non-fourth-quarter bookings and growing contributions from newer products. The earnings call suggested core identity growth is currently a more dependable driver than monetization of AI-specific offerings. Zacks earnings-call analysis
• Positive Sentiment: AI-related demand: Customers are investing more in identity and security controls as AI adoption creates new risks. Okta also cited traction for AI-agent security and key AI-related deals, supporting the possibility of a significant future market opportunity. CNBC cybersecurity rally report
• Positive Sentiment: Broad analyst support: Oppenheimer, RBC, Morgan Stanley, Truist, Needham, Cantor Fitzgerald, KeyCorp, BTIG and DA Davidson all raised price targets, generally to $187-$200, while maintaining positive ratings. Bank of America upgraded Okta from “underperform” to “neutral” with a $170 target. Benzinga analyst-revisions report
• Neutral Sentiment: AI opportunity remains early: Okta’s AI-agent security business is promising but is not yet a major revenue contributor, leaving future monetization dependent on product adoption and execution.
• Neutral Sentiment: Reports said Palo Alto Networks previously held acquisition discussions with Okta, but the talks stalled over valuation; there is no indication of a current transaction. Yahoo Finance acquisition report

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.