Okta (NASDAQ:OKTA) Upgraded at Wells Fargo & Company

Okta (NASDAQ:OKTA) was upgraded by equities researchers at Wells Fargo & Company to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on OKTA. The Goldman Sachs Group reduced their price target on shares of Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. TD Cowen dropped their price objective on shares of Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Truist Financial decreased their target price on Okta from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their target price on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Susquehanna cut their price target on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Okta Stock Down 2.0%

NASDAQ:OKTA opened at $72.52 on Monday. The company has a market cap of $12.85 billion, a PE ratio of 66.53, a P/E/G ratio of 2.87 and a beta of 0.79. The business’s 50 day moving average is $85.73 and its two-hundred day moving average is $87.62. Okta has a 52 week low of $68.77 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last posted 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 business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, sell-side analysts expect that Okta will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has initiated a share buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign 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 Okta 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 $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the completion of the sale, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. 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 over the last three months. 5.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Okta in the third quarter worth approximately $26,000. Elevation Wealth Partners LLC boosted its stake in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares in the last quarter. Promus Capital LLC bought a new position in Okta during the second quarter valued at about $27,000. Torren Management LLC acquired a new position in Okta during the fourth quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Okta in the third quarter worth about $34,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Jefferies kept a Buy rating on OKTA even after trimming its price target to $105, which signals continued conviction from a major sell‑side shop despite the cut. Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Robert W. Baird reiterated a Buy rating with a $125 target, highlighting bullish views around identity/security and AI tailwinds that could support upside. Okta: Strengthening Identity Security Amid AI Adoption
• Positive Sentiment: Okta will present at an investor conference — management access often tempers uncertainty ahead of earnings and can reinforce messaging on AI/security progress. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: The company is set to report Q4 results tomorrow (Mar. 4); previews expect steady revenue growth, rising RPO and AI‑security momentum but warn of macro and competitive pressures — this event is the near‑term catalyst. Dear Okta Stock Fans, Mark Your Calendars for March 4
• Neutral Sentiment: Media pieces discussing analyst ratings and whether to buy/hold/sell can amplify moves but provide limited new info; treat as sentiment drivers rather than fundamental changes. Wall Street Bulls Look Optimistic About Okta (OKTA)
• Negative Sentiment: Several firms cut price targets or set conservative ratings recently (Cantor Fitzgerald to $100, BTIG to $90, BMO trimmed its PT to $83 and kept Market Perform, Wells Fargo initiated at Equal Weight/$76) — the cluster of downward PT moves pressures sentiment and likely contributed to today’s decline. Cantor Fitzgerald Cuts Okta Price Target to $100 Benzinga Coverage BMO Capital Expects Solid Q1 Results
• Negative Sentiment: High-profile commentary questioned Okta’s differentiation in an AI era (Jim Cramer noted market skepticism that chatbots could displace some identity functions), which can stoke investor caution ahead of the report. Jim Cramer 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.