Okta (NASDAQ:OKTA) Rating Increased to Strong-Buy at Zacks Research

Okta (NASDAQ:OKTA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. KeyCorp decreased their price objective on Okta from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Citigroup reiterated a “neutral” rating on shares of Okta in a research report on Monday, January 12th. The Goldman Sachs Group decreased their price target on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Susquehanna cut their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Finally, DA Davidson set a $110.00 target price on Okta in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

Okta Price Performance

NASDAQ:OKTA opened at $75.25 on Wednesday. Okta has a one year low of $68.77 and a one year high of $127.57. The company has a market cap of $13.34 billion, a PE ratio of 69.04, a P/E/G ratio of 2.83 and a beta of 0.77. The firm’s 50 day simple moving average is $86.75 and its 200 day simple moving average is $88.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities research analysts expect that Okta will post 0.42 EPS for the current year.

Okta announced that its Board of Directors has authorized a share buyback program on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the transaction, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. The trade was a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,245 shares of company stock valued at $3,385,624 in the last ninety days. 5.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

Several institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in Okta by 5.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after buying an additional 113 shares in the last quarter. Spire Wealth Management grew its stake in 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 acquiring an additional 119 shares during the period. Simon Quick Advisors LLC grew its stake in Okta by 2.5% in the second quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock valued at $511,000 after acquiring an additional 126 shares during the period. Allworth Financial LP increased its holdings in shares of Okta by 6.4% during the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after acquiring an additional 135 shares in the last quarter. Finally, Choreo LLC increased its holdings in shares of Okta by 2.0% during the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Zacks upgraded OKTA to a Rank #1 (Strong Buy), citing improved earnings prospects — a clear catalyst supporting upside sentiment. Okta (OKTA) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Shares have shown short-term strength (recent intraday/closing gains), suggesting buyers are stepping in after heavy selling. Okta (OKTA) Rises Higher Than Market: Key Facts
• Neutral Sentiment: Okta’s CISO was recognized at the 2026 DallasCISO ORBIE Awards — positive credibility for the company’s security leadership but unlikely to move the stock materially on its own. 2026 DallasCISO ORBIE Awards Recognize Top Security Executives
• Neutral Sentiment: Market commentary flags OKTA as “high risk / high reward” ahead of its upcoming earnings report; this frames the near-term catalyst but leaves outcome-dependent directionality. After a Brutal Selloff, Are These 3 SaaS Giants About to Bounce?
• Negative Sentiment: BMO cut its price target from $90 to $83 and moved to “market perform,” a signal that some sell-side views are turning more cautious and could cap upside. BMO Capital Markets price-target note
• Negative Sentiment: Anthropic’s launch of Claude Code Security and other AI-driven security tools is pressuring cybersecurity peers and helped push Okta toward a 52-week low — a competitive/valuation headwind. Okta (OKTA) Valuation In Focus As AI Security Launch And 52-Week Low Test Investor Expectations
• Negative Sentiment: Unusually large purchases of put options and analyst pieces highlighting a steep recent selloff (down notably YTD and recent 4-week losses) point to elevated bearish positioning and sentiment risk ahead of earnings. Traders Purchase Large Volume of Put Options on Okta

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.