Okta, Inc. (NASDAQ:OKTA) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Okta, Inc. has received an average consensus recommendation of "Hold" from thirty-nine brokerages, with three sell ratings, fourteen holds, and twenty-two buys. The average target price is approximately $118.94.
• Recent insider trades include Larissa Schwartz selling 1,318 shares and CFO Brett Tighe selling 10,000 shares, representing decreases in their positions of 3.37% and 6.98% respectively.
• Institutional investors own 86.64% of Okta's stock, with significant holdings increases reported from several firms, including Vanguard Group and Massachusetts Financial Services.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has earned an average recommendation of "Hold" from the thirty-nine brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $118.9444.

A number of research firms have weighed in on OKTA. Westpark Capital reiterated a "buy" rating and set a $140.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Arete began coverage on Okta in a research note on Monday, July 7th. They set a "sell" rating and a $83.00 price objective for the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Okta in a research note on Wednesday, October 8th. BTIG Research reiterated a "buy" rating and set a $142.00 price objective on shares of Okta in a research note on Friday, September 26th. Finally, Scotiabank reduced their price objective on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 27th.

Insider Activity

In other news, insider Larissa Schwartz sold 1,318 shares of the firm's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total transaction of $120,794.70. Following the sale, the insider directly owned 37,837 shares in the company, valued at $3,467,761.05. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,249 shares of company stock worth $10,759,471. 5.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Okta by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company's stock valued at $1,872,263,000 after acquiring an additional 935,364 shares during the period. First Trust Advisors LP boosted its holdings in Okta by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company's stock worth $489,966,000 after buying an additional 407,087 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Okta by 20.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company's stock worth $445,432,000 after buying an additional 755,709 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Okta by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company's stock worth $314,488,000 after buying an additional 314,525 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock worth $289,234,000 after buying an additional 1,189,222 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

Shares of OKTA stock opened at $88.35 on Thursday. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of 103.94, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The business has a fifty day moving average of $91.43 and a 200 day moving average of $99.42. Okta has a 1 year low of $70.92 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. 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 research analysts expect that Okta will post 0.42 earnings per share for the current year.

Okta Company Profile

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.

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