Wells Fargo & Company Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its target price lifted by research analysts at Wells Fargo & Company from $76.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 5.31% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Mizuho decreased their price objective on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Piper Sandler decreased their price objective on Okta from $100.00 to $82.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. JPMorgan Chase & Co. increased their price objective on Okta from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Stifel Nicolaus reduced their price target on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, HSBC raised Okta to a “buy” rating in a research report on Thursday, April 16th. Thirty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.86.

Okta Stock Up 0.8%

Shares of NASDAQ:OKTA traded up $0.73 during mid-day trading on Thursday, reaching $89.77. 1,248,390 shares of the stock were exchanged, compared to its average volume of 3,358,167. The company has a market cap of $15.88 billion, a P/E ratio of 68.52, a P/E/G ratio of 3.34 and a beta of 0.59. Okta has a one year low of $62.66 and a one year high of $127.52. The stock’s 50 day simple moving average is $77.45 and its 200-day simple moving average is $82.52.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts anticipate that Okta will post 1.61 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the completion of the transaction, the chief executive officer directly owned 97,083 shares of the company’s stock, valued at approximately $7,864,693.83. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 23,304 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total value of $1,812,818.16. Following the transaction, the executive directly owned 4,364 shares of the company’s stock, valued at $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 70,884 shares of company stock valued at $5,625,648. Corporate insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in OKTA. Vanguard Group Inc. increased its position in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after buying an additional 161,069 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in Okta by 40.1% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after buying an additional 15,058 shares in the last quarter. Congress Asset Management Co. increased its position in Okta by 23.0% in the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after buying an additional 18,325 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Okta by 18.7% in the 3rd quarter. Federated Hermes Inc. now owns 269,505 shares of the company’s stock valued at $24,714,000 after buying an additional 42,395 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $105 from $90 and reiterated a Buy rating, signaling confidence in further upside. BTIG price target raise report
• Positive Sentiment: Jefferies said Okta is likely to beat its first-quarter bookings target and kept a Buy rating with a $105 price target, although it flagged the possibility of softer Q2 guidance. Jefferies note on Okta bookings and guidance
• Positive Sentiment: Okta was named a Leader in Forrester’s 2026 Workforce Identity Security Platforms report, reinforcing its competitive position in identity security. Forrester Wave leadership announcement
• Neutral Sentiment: TD Cowen maintained a Hold rating, which is more cautious but does not materially change the broader bullish analyst tone. TD Cowen hold rating
• Negative Sentiment: Director Shellye Archambeau sold 2,500 shares in a pre-planned Rule 10b5-1 transaction, a modest insider-selling signal that may temper enthusiasm. SEC insider filing

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.