Okta (NASDAQ:OKTA) Price Target Raised to $190.00 at KeyCorp

Key Points

• KeyCorp raised its Okta price target to $190 from $180 and maintained an “overweight” rating, implying roughly 41% upside from the cited share price.
• Okta exceeded quarterly expectations, reporting $1.05 in EPS versus $0.96 expected and $805 million in revenue versus $793 million forecast; revenue grew 10.6% year over year, while management raised its fiscal 2027 outlook.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and $149.03 price target, but Okta’s high valuation— including a P/E near 97— and recent insider selling remain considerations for investors.

Okta (NASDAQ:OKTA - Get Free Report) had its target price lifted by KeyCorp from $180.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective suggests a potential upside of 41.35% from the company's current price.

A number of other research firms have also recently commented on OKTA. Scotiabank raised shares of Okta from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $135.00 to $165.00 in a research report on Monday, July 6th. HSBC lowered shares of Okta from a "buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of Okta from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 3rd. 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. Finally, Evercore started coverage on Okta in a report on Monday, July 6th. They issued an "outperform" rating for the company. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $149.03.

Okta Stock Performance

OKTA stock opened at $134.42 on Thursday. Okta has a 1 year low of $62.66 and a 1 year high of $157.00. The firm has a market cap of $23.36 billion, a P/E ratio of 97.41, a price-to-earnings-growth ratio of 4.70 and a beta of 0.77. The stock has a 50-day simple moving average of $139.27 and a 200-day simple moving average of $104.50.

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

Insider Activity

In related news, CEO Todd Mckinnon sold 68,936 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. This represents a 64.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the company's stock in a transaction that occurred on 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 approximately $2,238,413.80. This trade represents a 16.86% 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. Insiders have sold 165,347 shares of company stock worth $21,827,342 over the last three months. 4.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Advisors Inc. raised its stake in Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company's stock valued at $27,000 after buying an additional 77 shares during the period. CX Institutional increased its holdings in shares of Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company's stock worth $359,000 after acquiring an additional 127 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company's stock valued at $105,000 after acquiring an additional 129 shares during the period. SteelPeak Wealth LLC raised its stake in Okta by 2.8% in the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company's stock valued at $407,000 after acquiring an additional 140 shares during the period. Finally, Utah Retirement Systems lifted its holdings in Okta by 0.6% during the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company's stock valued at $2,473,000 after purchasing an additional 163 shares during 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

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source