Okta (NASDAQ:OKTA) Given New $100.00 Price Target at Cantor Fitzgerald

Okta (NASDAQ:OKTA) had its price objective lowered by research analysts at Cantor Fitzgerald from $115.00 to $100.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 36.55% from the company’s current price.

Several other research analysts have also recently weighed in on OKTA. BTIG Research decreased their price objective on shares of Okta from $142.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reissued a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Zacks Research upgraded shares of Okta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, TD Cowen decreased their price target on shares of Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average price target of $110.57.

Okta Trading Down 2.7%

OKTA stock opened at $73.23 on Friday. The stock’s 50 day simple moving average is $86.75 and its 200 day simple moving average is $88.00. Okta has a 12-month low of $68.77 and a 12-month high of $127.57. The stock has a market capitalization of $12.98 billion, a PE ratio of 67.19, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77.

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

Okta announced that its Board of Directors has initiated a stock buyback program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $12,775,981.95. This represents a 6.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 1,836 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider owned 36,328 shares in the company, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by insiders.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Okta during the 2nd quarter valued at about $211,923,000. First Trust Advisors LP boosted its holdings in shares of Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Okta by 113.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after purchasing an additional 1,099,962 shares during the period. Vanguard Group Inc. raised its position in Okta by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in Okta by 276.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after purchasing an additional 1,031,083 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

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.