BTIG Research Raises Okta (NASDAQ:OKTA) Price Target to $187.00

Key Points

• BTIG Research raised Okta’s price target from $167 to $187 and maintained a “Buy” rating, implying 39.12% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $148.74.
• Okta’s latest quarterly results beat expectations, with adjusted EPS of $1.05 versus $0.96 expected and revenue of $805 million, up 10.6% year over year. The company also raised its fiscal 2027 outlook, citing stronger demand for AI-related identity and security products.
• Despite strong institutional ownership of 86.64%, insiders sold 165,347 shares worth approximately $21.8 million during the last quarter. Okta’s valuation remains elevated, with a P/E ratio near 97.

Okta (NASDAQ:OKTA - Get Free Report) had its price objective hoisted by equities research analysts at BTIG Research from $167.00 to $187.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 39.12% from the stock's previous close.

A number of other research analysts also recently issued reports on OKTA. The Goldman Sachs Group started coverage on Okta in a report on Monday, July 6th. They issued a "buy" rating for the company. Morgan Stanley upped their price target on Okta from $115.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. Truist Financial increased their price objective on shares of Okta from $120.00 to $165.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Oppenheimer boosted their target price on shares of Okta from $125.00 to $170.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Finally, Raymond James Financial lowered shares of Okta from a "buy" rating to a "strong sell" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.74.

Okta Price Performance

Shares of Okta stock opened at $134.42 on Thursday. The firm has a fifty day moving average price of $139.27 and a 200 day moving average price of $104.50. Okta has a 1 year low of $62.66 and a 1 year high of $157.00. The stock has a market cap of $23.36 billion, a PE ratio of 97.41, a price-to-earnings-growth ratio of 4.70 and a beta of 0.77.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. 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, equities analysts expect that Okta will post 1.75 EPS for the current year.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 3,977 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23. Following the completion of the sale, the insider directly owned 23,477 shares of the company's stock, valued at approximately $3,148,970.01. This represents a 51.54% decrease in their position. The SEC filing for this sale provides additional information. 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. 4.61% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the company. Schulz Wealth LTD. purchased a new position in Okta during the second quarter worth about $312,000. Brown Financial Advisors purchased a new stake in shares of Okta in the 2nd quarter valued at approximately $280,000. Groupe la Francaise acquired a new position in shares of Okta in the 2nd quarter worth approximately $461,000. California State Teachers Retirement System boosted its position in shares of Okta by 13,755.2% during the 2nd quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company's stock worth $4,949,942,000 after purchasing an additional 36,014,770 shares during the period. Finally, Washington Trust Advisors Inc. boosted its position in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company's stock worth $27,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly results exceeded expectations. Okta reported adjusted earnings of $1.05 per share versus the $0.96 analyst consensus, while revenue increased 10.6% year over year to $805 million, topping estimates of $793 million. Okta Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Raised guidance provides an additional catalyst. Okta now expects fiscal 2027 revenue of approximately $3.216 billion to $3.226 billion, representing 10% to 11% growth and above its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue guidance of $813 million to $817 million and EPS guidance of $0.92 to $0.94 also exceeded Wall Street expectations. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: AI-related demand is strengthening Okta’s growth narrative. Management highlighted increasing adoption of AI agents, new products contributing roughly 30% of bookings, record non-fourth-quarter bookings and partner-led sales. Investors view identity controls as increasingly important for securing AI-driven workflows. Okta and CrowdStrike Stocks Jump After Earnings
• Neutral Sentiment: Analyst support improved, but valuation remains a consideration. Robert W. Baird reiterated a Buy rating and set a $185 price target. However, Okta’s elevated valuation—including a P/E ratio near 97—may limit further gains if growth or guidance begins to slow. Okta Buy Rating and Raised Price Target

Okta Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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