Okta, Inc. (NASDAQ:OKTA) Receives $113.62 Consensus PT from Analysts

Okta, Inc. (NASDAQ:OKTA) has been given an average rating of “Moderate Buy” by the thirty-nine analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $113.6176.

Several analysts have recently commented on OKTA shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, December 3rd. Stifel Nicolaus reduced their target price on Okta from $130.00 to $121.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Cowen reaffirmed a “hold” rating on shares of Okta in a research note on Wednesday, December 3rd. BMO Capital Markets cut their price objective on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, December 3rd. Finally, Piper Sandler decreased their target price on shares of Okta from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $85.71, for a total transaction of $112,965.78. Following the completion of the transaction, the insider owned 35,201 shares of the company’s stock, valued at approximately $3,017,077.71. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 8,370 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total value of $754,890.30. Following the completion of the sale, the insider directly owned 11,266 shares in the company, valued at approximately $1,016,080.54. The trade was a 42.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,737 shares of company stock worth $2,139,206. 5.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Several institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Advisor Solutions LLC purchased a new position in Okta in the 1st quarter valued at $515,000. Fluent Financial LLC lifted its stake in shares of Okta by 94.9% in the 2nd quarter. Fluent Financial LLC now owns 10,825 shares of the company’s stock worth $1,082,000 after acquiring an additional 5,272 shares during the period. Ninety One SA PTY Ltd boosted its holdings in shares of Okta by 57.9% in the second quarter. Ninety One SA PTY Ltd now owns 49,209 shares of the company’s stock valued at $4,920,000 after acquiring an additional 18,046 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Okta by 3.5% during the first quarter. Focus Partners Wealth now owns 114,480 shares of the company’s stock worth $12,046,000 after acquiring an additional 3,857 shares during the period. Finally, Alkeon Capital Management LLC purchased a new position in Okta during the first quarter worth about $199,918,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Down 3.3%

NASDAQ OKTA opened at $83.64 on Tuesday. The business’s fifty day simple moving average is $85.98 and its 200-day simple moving average is $90.78. The firm has a market cap of $14.82 billion, a PE ratio of 76.73, a P/E/G ratio of 3.91 and a beta of 0.76. Okta has a 52 week low of $75.05 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Okta’s quarterly 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. Research analysts expect that Okta will post 0.42 EPS for the current year.

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.