Okta (NASDAQ:OKTA) Upgraded at Capital One Financial

Okta (NASDAQ:OKTA) was upgraded by analysts at Capital One Financial from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on OKTA. Mizuho lowered shares of Okta from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, June 2nd. Citigroup reissued an “outperform” rating on shares of Okta in a report on Friday, May 29th. UBS Group boosted their price objective on shares of Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. BMO Capital Markets boosted their price objective on shares of Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Sanford C. Bernstein lowered shares of Okta from an “outperform” rating to a “hold” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.42.

Okta Stock Down 2.1%

OKTA opened at $147.74 on Thursday. The stock’s 50 day moving average price is $116.91 and its two-hundred day moving average price is $93.68. The firm has a market capitalization of $25.68 billion, a P/E ratio of 107.06, a price-to-earnings-growth ratio of 5.43 and a beta of 0.77. Okta has a 12-month low of $62.66 and a 12-month high of $157.00.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, analysts anticipate that Okta will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the transaction, the chief financial officer owned 119,680 shares in the company, valued at $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the sale, the director directly owned 9,192 shares in the company, valued at $781,320. The trade was a 21.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 174,224 shares of company stock valued at $22,534,353 over the last 90 days. Company insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Elevation Wealth Partners LLC lifted its position in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after buying an additional 264 shares during the period. SHP Wealth Management bought a new stake in Okta in the fourth quarter valued at $27,000. Torren Management LLC bought a new stake in Okta in the fourth quarter valued at $32,000. MassMutual Private Wealth & Trust FSB raised its stake in Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after acquiring an additional 218 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Capital One upgraded Okta (OKTA), which can signal improving Wall Street confidence in the company’s outlook and help support the stock. Palo Alto Networks, Okta upgraded at Capital One
• Positive Sentiment: Okta won partner recognition tied to its identity security push in cloud and AI, reinforcing its growth narrative in high-demand enterprise security markets. Okta (OKTA) Wins Partner Recognition For Identity Security Push In Cloud And AI
• Positive Sentiment: Okta was highlighted in broader cybersecurity coverage as a beneficiary of rising AI-driven security demand and increased enterprise spending on cyber defense. Cybersecurity Space is Buzzing on Recent Catalysts: 3 Top Picks
• Positive Sentiment: Okta also appeared in an article favoring cybersecurity stocks as AI changes tech defense, suggesting the company remains a relevant long-term play in a favored sector. Top Cybersecurity Stocks to Buy Now as AI Changes Tech Defense
• Neutral Sentiment: Okta was mentioned among stocks moving after an IBM warning, but the headline appears to reflect sector rotation rather than a company-specific problem. Dell, HP Enterprise, and Okta are among the group seeing gains after IBM warning
• Negative Sentiment: One market note said Okta may be fully priced after a 114% three-year run, which could temper enthusiasm if investors worry the upside is already reflected in the valuation. Okta (OKTA) Stock May Be Fully Priced Following Its 114% Run

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.