Analysts Set Okta, Inc. (NASDAQ:OKTA) PT at $118.25

Key Points

• Okta, Inc. has received an average rating of "Moderate Buy" from analysts, with 22 buy ratings, 13 hold ratings, and 3 sell ratings among the 38 brokerages covering the firm.
• The average target price for Okta stock is $118.25, with various analysts raising their target prices in recent reports, including Stifel Nicolaus increasing their target from $120.00 to $130.00.
• Okta reported $0.91 EPS for the last quarter, exceeding consensus estimates, and recorded a revenue increase of 12.7% year-over-year.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has been given an average rating of "Moderate Buy" by the thirty-eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $118.25.

OKTA has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company boosted their price target on shares of Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a report on Wednesday, May 28th. Royal Bank Of Canada upped their price target on shares of Okta from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Stephens reiterated an "equal weight" rating and set a $127.00 price objective on shares of Okta in a research report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd.

Okta Stock Down 1.1%

Okta stock traded down $0.99 during midday trading on Friday, hitting $92.38. The company's stock had a trading volume of 2,518,277 shares, compared to its average volume of 3,686,110. Okta has a 12 month low of $70.92 and a 12 month high of $127.57. The company has a market capitalization of $16.17 billion, a PE ratio of 108.68, a price-to-earnings-growth ratio of 4.57 and a beta of 0.83. The stock's 50-day moving average price is $93.00 and its 200-day moving average price is $101.77.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, equities analysts anticipate that Okta will post 0.42 EPS for the current year.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 3,348 shares of Okta stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the transaction, the insider owned 39,155 shares of the company's stock, valued at $3,530,606.35. The trade was a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the completion of the sale, the insider directly owned 7,044 shares of the company's stock, valued at $646,709.64. This trade represents a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,012 shares of company stock worth $8,293,168. Corporate insiders own 5.68% of the company's stock.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Wolff Wiese Magana LLC raised its holdings in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in Okta during the second quarter worth $26,000. Wayfinding Financial LLC bought a new stake in shares of Okta during the 1st quarter worth about $27,000. Harbour Investments Inc. boosted its position in Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after purchasing an additional 157 shares during the period. Finally, Promus Capital LLC acquired a new position in Okta in the 2nd quarter valued at $27,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.