Okta (NASDAQ:OKTA) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research raised its price target on Okta from $105 to $119 and kept a buy rating, implying about 25.6% upside from the prior close.
• Okta’s latest earnings beat expectations, with EPS of $0.91 versus $0.85 expected and revenue of $765 million versus $751.8 million expected, while revenue grew 11.2% year over year.
• Management also issued guidance above consensus, including Q2 EPS of $0.95 to $0.97 and FY 2027 EPS of $3.79 to $3.87, even as analyst opinions remain mixed and the consensus rating is still only Moderate Buy.

Okta (NASDAQ:OKTA - Get Free Report) had its price objective lifted by equities research analysts at BTIG Research from $105.00 to $119.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 25.63% from the company's previous close.

Several other analysts have also recently issued reports on the stock. Piper Sandler reduced their price target on shares of Okta from $100.00 to $82.00 and set a "neutral" rating on the stock in a research report on Thursday, March 5th. TD Cowen reduced their price target on shares of Okta from $115.00 to $105.00 and set a "hold" rating on the stock in a research report on Tuesday, February 24th. Canaccord Genuity Group reduced their price target on shares of Okta from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Okta from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, March 5th. Finally, Cantor Fitzgerald increased their price target on shares of Okta from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $104.85.

Okta Price Performance

NASDAQ OKTA opened at $94.72 on Friday. The firm's 50-day moving average is $79.01 and its two-hundred day moving average is $82.69. Okta has a 12 month low of $62.66 and a 12 month high of $107.84. The stock has a market capitalization of $16.76 billion, a P/E ratio of 72.31, a PEG ratio of 3.49 and a beta of 0.59.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $751.84 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. Okta's revenue for the quarter was up 11.2% compared to the same quarter last year. 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, analysts anticipate that Okta will post 1.61 EPS for the current year.

Insider Activity

In other news, Director David Schellhase bought 3,712 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the purchase, the director owned 3,712 shares of the company's stock, valued at approximately $267,412.48. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 2,409 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total transaction of $192,720.00. Following the sale, the insider owned 15,470 shares in the company, valued at $1,237,600. The trade was a 13.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 70,884 shares of company stock valued at $5,625,648. 4.61% of the stock is owned by corporate insiders.

Institutional Trading of Okta

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

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported fiscal Q1 2027 results that beat estimates on both earnings and revenue, with EPS of $0.91 versus $0.85 expected and revenue of $765 million versus $751.8 million expected. The company also highlighted stronger operating performance and 11.2% year-over-year revenue growth. Okta earnings report
• Positive Sentiment: Management issued guidance above consensus, including Q2 EPS guidance of $0.95 to $0.97 and FY 2027 EPS guidance of $3.79 to $3.87, signaling confidence in continued execution and margin improvement. Okta press release
• Positive Sentiment: Analysts turned more constructive after the report, with JPMorgan raising its price target to $114, Citi lifting its target to $105, Robert W. Baird raising its target to $140, and William Blair reiterating a Buy rating on improving enterprise momentum and AI-driven growth potential. Citi target lift article
• Positive Sentiment: Investors are also focused on Okta’s AI-agent identity management opportunity, which management said is creating additional demand for its security tools and could expand the company’s long-term growth runway. CNBC earnings article
• Neutral Sentiment: Some commentary pointed to valuation as a reason for caution, with Citi keeping a Hold rating despite better execution, suggesting the stock may need continued fundamental progress to justify further upside. Citi hold/target article

Okta Company Profile

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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