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

Key Points

• Barclays raised Okta’s price target to $180 from $170 while maintaining an “overweight” rating, implying approximately 5.5% upside from the reported share price.
• Okta shares surged 26.9% to $170.59 after the company reported quarterly EPS of $1.05, beating the $0.96 consensus, and revenue of $805 million, ahead of estimates. Revenue grew 10.6% year over year, and management raised its fiscal 2027 revenue guidance.
• Analyst sentiment remains favorable, with Okta carrying a “Moderate Buy” consensus rating and an average price target of $166.16; however, insiders sold approximately $21.8 million of stock during the last quarter.

Okta (NASDAQ:OKTA - Get Free Report) had its target price raised by equities research analysts at Barclays from $170.00 to $180.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 5.52% from the stock's current price.

Other equities research analysts have also issued reports about the company. Arete Research set a $127.00 target price on Okta and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Susquehanna increased their price target on Okta from $80.00 to $110.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Jefferies Financial Group set a $200.00 price target on Okta in a research note on Thursday. Sanford C. Bernstein upped their price target on shares of Okta from $141.00 to $143.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Capital One Financial set a $171.00 price objective on shares of Okta and gave the stock an "overweight" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Okta has an average rating of "Moderate Buy" and a consensus price target of $166.16.

Okta Stock Up 26.9%

Okta stock traded up $36.16 during mid-day trading on Thursday, hitting $170.59. The company's stock had a trading volume of 8,078,619 shares, compared to its average volume of 3,507,806. The stock has a market capitalization of $29.65 billion, a P/E ratio of 123.41, a P/E/G ratio of 4.70 and a beta of 0.77. Okta has a twelve month low of $62.66 and a twelve month high of $170.99. The stock's fifty day moving average price is $139.27 and its two-hundred day moving average price is $104.50.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating 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%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. Equities analysts expect that Okta will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 65,000 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the completion of the sale, the chief financial officer owned 119,680 shares in the company, valued at approximately $14,032,480. This represents a 35.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 firm's 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 transaction, the insider directly owned 23,477 shares in the company, valued at $3,148,970.01. The trade was a 51.54% decrease in their ownership of the stock. 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 165,347 shares of company stock worth $21,827,342 over the last quarter. Company insiders own 4.61% of the company's stock.

Institutional Trading of Okta

A number of institutional investors and hedge funds have recently modified their holdings of OKTA. Schulz Wealth LTD. bought a new stake in shares of Okta during the 2nd quarter worth $312,000. Brown Financial Advisors bought a new position in Okta in the 2nd quarter worth $280,000. Groupe la Francaise acquired a new position in Okta during the 2nd quarter worth $461,000. California State Teachers Retirement System lifted its position in 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 acquiring an additional 36,014,770 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company's stock valued at $27,000 after acquiring an additional 77 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and higher guidance: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus and revenue of $805 million versus expectations of approximately $793 million. Revenue increased 10.6% year over year. Management raised fiscal 2027 revenue guidance to roughly $3.216 billion-$3.226 billion, from $3.19 billion-$3.21 billion previously, and forecast third-quarter revenue of $813 million-$817 million, above analyst estimates. CNBC earnings report
• Positive Sentiment: Core identity momentum: Management highlighted stronger identity bookings, record non-fourth-quarter bookings and growing contributions from newer products. The earnings call suggested core identity growth is currently a more dependable driver than monetization of AI-specific offerings. Zacks earnings-call analysis
• Positive Sentiment: AI-related demand: Customers are investing more in identity and security controls as AI adoption creates new risks. Okta also cited traction for AI-agent security and key AI-related deals, supporting the possibility of a significant future market opportunity. CNBC cybersecurity rally report
• Positive Sentiment: Broad analyst support: Oppenheimer, RBC, Morgan Stanley, Truist, Needham, Cantor Fitzgerald, KeyCorp, BTIG and DA Davidson all raised price targets, generally to $187-$200, while maintaining positive ratings. Bank of America upgraded Okta from “underperform” to “neutral” with a $170 target. Benzinga analyst-revisions report
• Neutral Sentiment: AI opportunity remains early: Okta’s AI-agent security business is promising but is not yet a major revenue contributor, leaving future monetization dependent on product adoption and execution.
• Neutral Sentiment: Reports said Palo Alto Networks previously held acquisition discussions with Okta, but the talks stalled over valuation; there is no indication of a current transaction. Yahoo Finance acquisition report

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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