Okta (NASDAQ:OKTA) Price Target Raised to $180.00

Okta (NASDAQ:OKTA) had its price target upped by Citizens Jmp from $170.00 to $180.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other equities research analysts also recently weighed in on OKTA. Truist Financial reissued a “buy” rating and issued a $200.00 target price (up from $165.00) on shares of Okta in a research report on Thursday. Oppenheimer increased their price target on shares of Okta from $125.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Berenberg Bank lifted their price target on Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Guggenheim set a $188.00 price objective on Okta and gave the company a “buy” rating in a report on Thursday. Finally, Weiss Ratings upgraded Okta from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $172.92.

Okta Trading Down 3.9%

OKTA stock opened at $166.23 on Thursday. The firm has a 50 day simple moving average of $141.34 and a 200-day simple moving average of $105.53. The company has a market capitalization of $28.89 billion, a P/E ratio of 100.14, a PEG ratio of 5.94 and a beta of 0.77. Okta has a twelve month low of $62.66 and a twelve month high of $174.85.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts predict that Okta will post 1.77 EPS for the current year.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This represents a 16.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the sale, the insider owned 23,477 shares in the company, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their position. 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. In the last quarter, insiders have sold 165,347 shares of company stock valued at $21,827,342. Corporate insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in shares of Okta by 13,755.2% during the second quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock valued at $4,949,942,000 after purchasing an additional 36,014,770 shares during the last quarter. Norges Bank bought a new stake in shares of Okta in the 4th quarter worth approximately $175,193,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares during the last quarter. First Trust Advisors LP boosted its position in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Okta by 276.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after purchasing an additional 1,031,083 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

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.