Okta (NASDAQ:OKTA) Given New $140.00 Price Target at DA Davidson

Okta (NASDAQ:OKTA - Get Free Report) had its price target lowered by stock analysts at DA Davidson from $145.00 to $140.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 31.30% from the stock's current price. DA Davidson also issued estimates for Okta's Q2 2026 earnings at $0.31 EPS, FY2026 earnings at $1.17 EPS and FY2027 earnings at $1.41 EPS.

A number of other research analysts have also recently issued reports on OKTA. Morgan Stanley dropped their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company raised their price objective on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, KeyCorp raised their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

Okta Price Performance

Okta stock traded up $1.41 during mid-day trading on Wednesday, reaching $106.63. The company had a trading volume of 9,719,647 shares, compared to its average volume of 2,955,132. Okta has a 1 year low of $70.56 and a 1 year high of $127.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $18.51 billion, a P/E ratio of -304.66, a P/E/G ratio of 6.42 and a beta of 0.96. The stock's 50-day simple moving average is $109.53 and its 200-day simple moving average is $96.67.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The company had revenue of $688.00 million during the quarter, compared to analysts' expectations of $680.14 million. During the same period last year, the company posted $0.65 earnings per share. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Okta will post 0.42 EPS for the current year.

Insider Buying and Selling at Okta

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 in the last quarter. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. Norges Bank acquired a new position in shares of Okta during the 4th quarter valued at $234,992,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after acquiring an additional 2,830,582 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in shares of Okta during the 1st quarter valued at $199,918,000. Ameriprise Financial Inc. lifted its holdings in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after acquiring an additional 1,828,630 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new position in shares of Okta during the 1st quarter valued at $189,915,000. Institutional investors and hedge funds own 86.64% of the company's stock.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.