Okta, Inc. (NASDAQ:OKTA) Receives $112.56 Average PT from Brokerages

Okta, Inc. (NASDAQ:OKTA) has been assigned an average rating of “Moderate Buy” from the thirty-nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and twenty-five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $112.0571.

OKTA has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating on shares of Okta in a research note on Monday, January 12th. Berenberg Bank assumed coverage on Okta in a research report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price target for the company. Guggenheim reaffirmed a “buy” rating and issued a $138.00 price target on shares of Okta in a report on Wednesday, December 3rd. UBS Group reissued a “buy” rating on shares of Okta in a research note on Thursday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Okta in a report on Friday, December 12th.

Insider Activity

In related news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the completion of the transaction, the insider owned 11,266 shares of the company’s stock, valued at $950,850.40. The trade was a 17.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,245 shares of company stock worth $3,385,624 in the last 90 days. 5.68% of the stock is owned by corporate insiders.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. Smith Group Asset Management LLC boosted its stake in shares of Okta by 2.0% in the second quarter. Smith Group Asset Management LLC now owns 242,793 shares of the company’s stock valued at $24,272,000 after purchasing an additional 4,798 shares during the period. Bourgeon Capital Management LLC acquired a new position in shares of Okta in the third quarter valued at approximately $7,946,000. SBI Securities Co. Ltd. increased its stake in Okta by 35.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock worth $3,580,000 after buying an additional 9,340 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Okta during the 2nd quarter worth approximately $30,074,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $71.14 on Wednesday. Okta has a 1 year low of $68.77 and a 1 year high of $127.57. The firm has a market capitalization of $12.61 billion, a PE ratio of 65.27, a P/E/G ratio of 2.79 and a beta of 0.77. The business’s 50 day moving average price is $87.36 and its 200-day moving average price is $88.20.

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

Okta announced that its board has authorized a stock repurchase plan on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.