Okta (NASDAQ:OKTA) Price Target Raised to $190.00

Okta (NASDAQ:OKTA) had its target price hoisted by KeyCorp from $180.00 to $190.00 in a research note published on Thursday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

OKTA has been the subject of a number of other reports. Jefferies Financial Group lifted their price objective on shares of Okta from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Barclays upped their target price on shares of Okta from $120.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of Okta in a research report on Thursday. DA Davidson lifted their price target on Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on Okta from $120.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average price target of $172.92.

Okta Stock Down 3.9%

Shares of NASDAQ:OKTA opened at $166.23 on Thursday. Okta has a twelve month low of $62.66 and a twelve month high of $174.85. The stock’s 50 day moving average is $141.34 and its 200-day moving average is $105.53. The firm has a market capitalization of $28.89 billion, a price-to-earnings ratio of 100.14, a PEG ratio of 5.94 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. Okta’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $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. Equities research analysts anticipate that Okta will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the sale, the insider directly owned 25,241 shares in the company, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the transaction, the chief financial officer directly owned 119,680 shares in the company, valued at approximately $14,032,480. This represents 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. Over the last ninety days, insiders sold 165,347 shares of company stock valued at $21,827,342. Insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SHP Wealth Management bought a new position in Okta during the fourth quarter valued at about $27,000. Washington Trust Advisors Inc. raised its position in Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after acquiring an additional 77 shares during the period. Torren Management LLC bought a new stake in Okta in the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB boosted its stake in 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 acquiring an additional 218 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Okta by 81.1% in the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after acquiring an additional 322 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

About Okta

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.