Okta, Inc. (NASDAQ:OKTA) Stock Has Consensus Price Target of $200.72

Shares of Okta, Inc. (NASDAQ:OKTA) have received a consensus recommendation of “Moderate Buy” from the forty-three research firms that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, thirty-two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $200.72.

Several equities analysts recently weighed in on OKTA shares. Capital One Financial set a $171.00 price objective on shares of Okta and gave the company an “overweight” rating in a research report on Thursday, July 16th. Stephens boosted their target price on shares of Okta from $190.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a research report on Sunday. The Goldman Sachs Group increased their price target on shares of Okta from $126.00 to $203.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Needham & Company LLC raised their price target on shares of Okta from $200.00 to $230.00 and gave the company a “buy” rating in a report on Monday, September 21st.

Insider Buying and Selling

In other Okta news, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the transaction, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares in the company, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 206,702 shares of company stock worth $34,034,508. Corporate insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in shares of Okta by 11.9% in the third quarter. Versant Capital Management Inc now owns 563 shares of the company’s stock valued at $118,000 after purchasing an additional 60 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in Okta by 64.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after purchasing an additional 77 shares during the period. Burkett Financial Services LLC acquired a new position in Okta in the 3rd quarter valued at $26,000. CX Institutional increased its position in Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company’s stock worth $359,000 after buying an additional 127 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Okta by 10.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock worth $105,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

Shares of OKTA stock opened at $211.49 on Thursday. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $216.59. The stock’s 50-day moving average is $165.40 and its two-hundred day moving average is $124.28. The firm has a market cap of $36.97 billion, a P/E ratio of 127.40, a PEG ratio of 6.58 and a beta of 0.73.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $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. As a group, research analysts expect that Okta will post 1.92 EPS for the current year.

Okta Company Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.