Okta (NASDAQ:OKTA) Price Target Raised to $105.00 at Piper Sandler

Key Points

• Piper Sandler raised its price target on Okta from $82 to $105 while keeping a neutral rating. The new target still implies about 13.2% downside from the current share price.
• Okta’s stock jumped 27.7% to $120.98 after the company reported better-than-expected earnings and revenue, including $0.91 EPS on $765 million in sales. Management also raised guidance, which helped fuel the rally.
• Analyst sentiment has turned broadly constructive, with multiple firms raising targets and the consensus rating now sitting at Moderate Buy. The average analyst price target is $109.74, though some insider selling was also reported recently.

Okta (NASDAQ:OKTA - Get Free Report) had its price objective increased by equities researchers at Piper Sandler from $82.00 to $105.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target indicates a potential downside of 13.21% from the stock's current price.

OKTA has been the subject of several other research reports. Citigroup restated an "outperform" rating on shares of Okta 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 target for the company in a research note on Thursday, April 16th. Barclays increased their price target on shares of Okta from $90.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Okta from $85.00 to $80.00 and set a "hold" rating for the company in a research note on Thursday, March 5th. Finally, Oppenheimer increased their price target on shares of Okta from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $109.74.

Okta Stock Up 27.7%

NASDAQ OKTA traded up $26.26 on Friday, hitting $120.98. 8,688,730 shares of the stock were exchanged, compared to its average volume of 3,482,311. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $121.19. The company has a market cap of $21.40 billion, a PE ratio of 92.28, a PEG ratio of 3.49 and a beta of 0.59. The company has a 50-day moving average price of $79.01 and a 200-day moving average price of $82.69.

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

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 16,818 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the completion of the transaction, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. This trade represents a 52.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 11,263 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer owned 97,083 shares of the company's stock, valued at $7,864,693.83. This trade represents a 10.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,884 shares of company stock worth $5,625,648. Insiders own 4.61% of the company's stock.

Hedge Funds Weigh In On Okta

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. First Trust Advisors LP grew its holdings in Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company's stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Geode Capital Management LLC grew its holdings in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock valued at $281,246,000 after purchasing an additional 57,605 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Okta by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company's stock valued at $215,776,000 after purchasing an additional 69,653 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Okta

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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