Okta, Inc. (NASDAQ:OKTA) Stock Has Consensus Target Price of $202.38 According to Analysts

Key Points

• Analysts rate Okta a “Moderate Buy” overall: 31 analysts recommend buying, 11 recommend holding, and one gives a strong-buy rating. The average 12-month price target is $202.38, below the stock’s reported $213.05 price.
• Okta’s latest quarterly results exceeded expectations, with EPS of $1.05 versus a $0.96 consensus and revenue of $805 million versus $793 million expected. Revenue increased 10.6% year over year.
• Company insiders sold substantial shares over the past 90 days, totaling 137,766 shares worth approximately $23.9 million, including sales by the CEO and CFO under pre-arranged trading plans.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has earned an average rating of "Moderate Buy" from the forty-three brokerages that are presently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, thirty-one have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $202.38.

Several equities analysts have commented on OKTA shares. TD Cowen raised their price target on shares of Okta from $175.00 to $200.00 and gave the company a "hold" rating in a research report on Thursday, September 24th. Canaccord Genuity Group upped their price objective on Okta from $115.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. DA Davidson upped their price objective on Okta from $190.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. Truist Financial increased their price objective on Okta from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Finally, Robert W. Baird lifted their target price on Okta from $200.00 to $235.00 and gave the company an "outperform" rating in a report on Friday, September 25th.

Okta Price Performance

NASDAQ OKTA opened at $213.05 on Monday. The company has a market cap of $37.25 billion, a P/E ratio of 128.34, a P/E/G ratio of 6.63 and a beta of 0.73. The stock has a 50-day moving average of $185.47 and a two-hundred day moving average of $138.67. Okta has a 1-year low of $62.66 and a 1-year high of $235.00.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analysts' expectations of $793.00 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The business's quarterly 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. On average, analysts anticipate that Okta will post 1.92 EPS for the current fiscal year.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 41,251 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the sale, the chief financial officer directly owned 7,693 shares in the company, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the sale, the chief executive officer directly owned 44,029 shares of the company's stock, valued at approximately $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 137,766 shares of company stock valued at $23,927,112. 4.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Okta

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock worth $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company's stock valued at $195,844,000 after acquiring an additional 550,328 shares during the last quarter. Swedbank AB raised its position in shares of Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company's stock worth $174,468,000 after acquiring an additional 397,507 shares in the last quarter. Bank of America Corp DE raised its position in shares of Okta by 0.4% during the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company's stock worth $117,821,000 after acquiring an additional 6,533 shares in the last quarter. Finally, Senvest Management LLC raised its position in shares of Okta by 54.5% during the 1st quarter. Senvest Management LLC now owns 830,515 shares of the company's stock worth $65,370,000 after acquiring an additional 292,900 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company's offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.

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