Morgan Stanley Boosts Okta (NASDAQ:OKTA) Price Target to $115.00

Key Points

• Morgan Stanley raised its price target on Okta to $115 from $101 and kept an overweight rating, though that target still implies slight downside from the current share price.
• Okta has seen a wave of bullish analyst updates, with firms like Needham, Truist, and Mizuho also lifting targets after the company’s latest results; consensus remains Moderate Buy.
• The stock surged to $118.78 after Okta beat earnings and revenue expectations, posted 11.2% year-over-year revenue growth, and raised guidance, reinforcing optimism around demand for identity security and AI-related growth.

Okta (NASDAQ:OKTA - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $101.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 3.18% from the stock's current price.

OKTA has been the topic of a number of other reports. Needham & Company LLC increased their target price on shares of Okta from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Friday. Truist Financial raised their price objective on shares of Okta from $100.00 to $120.00 and gave the company a "buy" rating in a report on Friday. Raymond James Financial upgraded shares of Okta from a "market perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a report on Thursday, April 16th. Wedbush restated an "outperform" rating and issued a $60.00 price objective on shares of Okta in a report on Friday. Finally, Mizuho raised their price objective on shares of Okta from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.80.

Okta Stock Up 25.4%

Okta stock traded up $24.06 during mid-day trading on Friday, reaching $118.78. 6,887,358 shares of the company's stock were exchanged, compared to its average volume of 3,464,829. The company has a market cap of $21.01 billion, a P/E ratio of 90.84, a P/E/G ratio of 3.49 and a beta of 0.59. Okta has a twelve month low of $62.66 and a twelve month high of $119.40. The company has a fifty day moving average of $79.01 and a 200-day moving average of $82.69.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts expect that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 6,377 shares of the company's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the transaction, the insider owned 54,825 shares in the company, valued at $4,372,293.75. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 16,818 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $80.00, for a total value of $1,345,440.00. Following the transaction, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. The trade was a 52.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 70,884 shares of company stock worth $5,625,648. Insiders own 4.61% of the company's stock.

Institutional Trading of Okta

Institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its holdings in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Okta in the 4th quarter valued at about $27,000. Torren Management LLC purchased a new stake in shares of Okta in the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Okta in the 3rd quarter valued at about $34,000. Finally, Westside Investment Management Inc. grew its position in Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company's stock worth $38,000 after purchasing an additional 193 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street estimates on both revenue and earnings, reporting $765 million in revenue and $0.91 in adjusted EPS, while also highlighting 11.2% year-over-year sales growth and improved operating profitability. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management lifted full-year and next-quarter guidance, signaling confidence in continued demand and execution; investors are viewing the outlook as a key reason the stock is re-rating higher. Okta shares surge after first-quarter earnings beat, raised guidance
• Positive Sentiment: Several analysts raised price targets after the report, including RBC, Truist, Berenberg, Oppenheimer, BTIG, Needham, BMO, JPMorgan, and others, reflecting improving sentiment around Okta’s enterprise momentum and AI-related identity opportunity. Okta Price Target Raised to $140 on Improving Fundamentals, AI-Driven Growth, and Conservative Upside Potential
• Positive Sentiment: Analysts and company commentary pointed to rising demand for identity security tied to AI agents, which is becoming an important growth narrative for Okta. Okta tops first-quarter results on agentic AI demand
• Neutral Sentiment: Okta also announced an upcoming investor conference appearance, which is supportive for visibility but not a major near-term catalyst by itself. Okta to Present at Upcoming Investor Conferences

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.

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