Okta (NASDAQ:OKTA) Given New $190.00 Price Target at Scotiabank

Key Points

• Scotiabank raised Okta’s price target to $190 from $165 while maintaining a “sector outperform” rating. Other analysts also increased targets, including Needham to $230, and the consensus rating remains “Moderate Buy” with an average target of $177.61.
• Okta exceeded quarterly expectations, reporting adjusted EPS of $1.05 versus $0.96 expected and revenue of $805 million versus $793 million. Revenue increased 10.6% year over year, while shares traded near a 12-month high at about $193.
• AI-agent security is becoming Okta’s key growth narrative, supported by analyst optimism and ecosystem partnerships. However, the stock’s elevated valuation and unproven AI monetization leave it exposed to profit-taking if adoption or future guidance disappoints.

Okta (NASDAQ:OKTA - Get Free Report) had its price target upped by analysts at Scotiabank from $165.00 to $190.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price target would suggest a potential downside of 1.56% from the company's current price.

Several other equities research analysts have also commented on OKTA. TD Cowen boosted their price target on Okta from $160.00 to $175.00 and gave the stock a "hold" rating in a research note on Thursday, August 27th. Capital One Financial set a $171.00 target price on Okta and gave the company an "overweight" rating in a report on Thursday, July 16th. Needham & Company LLC raised their price target on Okta from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Monday. Royal Bank Of Canada lifted their price target on Okta from $166.00 to $195.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Finally, Barclays boosted their price objective on shares of Okta from $170.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Okta currently has an average rating of "Moderate Buy" and an average price target of $177.61.

Okta Price Performance

Shares of OKTA stock traded up $1.69 during trading hours on Tuesday, reaching $193.02. 820,346 shares of the stock were exchanged, compared to its average volume of 3,582,168. The business's fifty day moving average is $154.59 and its two-hundred day moving average is $116.61. The firm has a market capitalization of $33.74 billion, a P/E ratio of 115.87, a P/E/G ratio of 5.67 and a beta of 0.79. Okta has a 12-month low of $62.66 and a 12-month high of $193.18.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $793.00 million. During the same period last year, the firm posted $0.91 EPS. The company's 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. As a group, equities research analysts predict that Okta will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other news, insider Eric Kelleher sold 2,549 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $168.55, for a total transaction of $429,633.95. Following the transaction, the insider owned 17,069 shares of the company's stock, valued at approximately $2,876,979.95. This trade represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 68,936 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer owned 38,484 shares of the company's stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,485 shares of company stock valued at $23,414,433 in the last three months. Corporate insiders own 4.61% of the company's stock.

Institutional Trading of Okta

Large investors have recently added to or reduced their stakes in the business. Junto Capital Management LP purchased a new stake in shares of Okta in the second quarter worth approximately $45,486,000. National Pension Service grew its position in shares of Okta by 23.2% in the second quarter. National Pension Service now owns 43,893 shares of the company's stock valued at $5,989,000 after purchasing an additional 8,257 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Okta by 521.5% in the second quarter. NewEdge Advisors LLC now owns 2,828 shares of the company's stock worth $386,000 after acquiring an additional 2,373 shares during the last quarter. GFG Capital LLC increased its stake in Okta by 12.0% during the second quarter. GFG Capital LLC now owns 33,971 shares of the company's stock valued at $4,635,000 after acquiring an additional 3,639 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in Okta in the 2nd quarter valued at $3,444,000. 86.64% of the stock is currently owned by institutional investors.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Higher analyst targets reinforce the bullish case. Needham raised its price target to $230 from $200 and maintained a Buy rating, citing traction in AI-agent security and expectations that Okta can eventually bill for AI-agent access. Robert W. Baird also lifted its target to $200 from $185 and kept an Outperform rating. Needham price-target article
• Positive Sentiment: AI security is emerging as Okta’s central growth narrative. Analysts expect the company to use Oktane 2026 and its investor day to demonstrate how identity controls for autonomous AI agents could expand its addressable market beyond traditional workforce and customer identity products. Okta AI security and Needham article
• Positive Sentiment: Partner activity supports Okta’s ecosystem strategy. Aembit announced support for Okta’s Cross App Access protocol, which enables enterprise identities to authorize AI-agent access across applications without repeated consent steps. Separately, the Blueprint Alliance is working on shared architecture for securing AI agents, highlighting the industry’s need for identity governance. Aembit Okta support article
• Neutral Sentiment: Fundamentals provide support, but the market is pricing in substantial success. Okta recently exceeded quarterly earnings and revenue expectations, while revenue grew 10.6% year over year. However, its elevated valuation and strong run-up mean investors may demand convincing evidence that AI products will accelerate growth rather than simply improve the existing offering. Okta valuation and AI payoff article
• Negative Sentiment: Execution and valuation risks remain. Commentary notes that Okta and other cybersecurity leaders trade at sizable premiums despite the AI revenue opportunity still being unproven. Any disappointing investor-day outlook, slower adoption, or limited evidence of monetization could trigger profit-taking.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company's offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.

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