Okta (NASDAQ:OKTA) Given New $200.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Okta’s price target to $200 from $170 and maintained an “overweight” rating, implying approximately 48.8% upside from the reported $134.42 share price.
• Okta exceeded quarterly expectations, reporting adjusted EPS of $1.05 versus the $0.96 consensus and revenue of $805 million versus $793 million, with revenue up 10.6% year over year.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and $148.74 target, though Okta’s high valuation and recent insider selling remain considerations.

Okta (NASDAQ:OKTA - Get Free Report) had its target price hoisted by research analysts at Cantor Fitzgerald from $170.00 to $200.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 48.79% from the company's current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Okta from $115.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. UBS Group increased their target price on shares of Okta from $115.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Citigroup reiterated a "market outperform" rating on shares of Okta in a research report on Thursday. Susquehanna boosted their price target on shares of Okta from $80.00 to $110.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Finally, HC Wainwright started coverage on shares of Okta in a research report on Monday, July 6th. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $148.74.

Okta Trading Up 2.9%

Shares of Okta stock opened at $134.42 on Thursday. The firm has a market capitalization 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 has a 12 month low of $62.66 and a 12 month high of $157.00. The business's 50-day moving average price is $139.27 and its 200-day moving average price is $104.50.

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

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 68,936 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the transaction, the chief executive officer directly 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 ownership of the stock. The transaction 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 2,463 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares of the company's stock, valued at $3,028,920. The trade was a 8.89% 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 worth $21,827,342. Corporate insiders own 4.61% of the company's stock.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. SHP Wealth Management purchased a new position in shares of Okta in the 4th quarter valued at approximately $27,000. Washington Trust Advisors Inc. grew its stake in shares of Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company's stock worth $27,000 after acquiring an additional 77 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Okta in the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company's stock valued at $40,000 after acquiring an additional 218 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company's stock valued at $57,000 after acquiring an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Key Stories Impacting Okta

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.

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