Okta (NASDAQ:OKTA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target on Okta from $103 to $114 and kept an overweight rating, implying about 19% upside from the current share price.
• Other analysts remain broadly constructive on Okta, with recent target hikes and ratings changes from firms like Arete Research, Barclays, and Citigroup. MarketBeat’s consensus rating is Moderate Buy, with an average target price of $102.44.
• Okta shares were trading higher, up 6.9% to $95.66, after the company reported quarterly results that beat EPS and revenue estimates and showed 11.6% revenue growth year over year.

Okta (NASDAQ:OKTA - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $103.00 to $114.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 19.17% from the company's current price.

A number of other equities analysts have also weighed in on OKTA. Arete Research set a $127.00 price target on shares of Okta and gave the stock a "buy" rating in a research report on Tuesday. Scotiabank cut their target price on Okta from $85.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, March 5th. Barclays increased their target price on Okta from $90.00 to $93.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Citigroup upgraded Okta from a "negative" rating to a "positive" rating in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group cut their target price on shares of Okta from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.44.

Okta Trading Up 6.9%

NASDAQ OKTA traded up $6.16 during trading hours on Thursday, hitting $95.66. 4,650,240 shares of the company's stock traded hands, compared to its average volume of 3,392,028. The business's fifty day moving average price is $78.68 and its two-hundred day moving average price is $82.62. The firm has a market capitalization of $16.92 billion, a P/E ratio of 73.14, a P/E/G ratio of 3.65 and a beta of 0.59. Okta has a 52 week low of $62.66 and a 52 week high of $107.84.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, sell-side analysts expect that Okta will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 11,263 shares of the 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 completion of the transaction, the chief executive officer owned 97,083 shares of the company's stock, valued at $7,864,693.83. This represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Schellhase acquired 3,712 shares of the stock in a transaction on Thursday, April 16th. The shares were acquired at an average price of $72.04 per share, with a total value of $267,412.48. Following the transaction, the director directly owned 3,712 shares of the company's stock, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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

Several institutional investors have recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC bought a new position in Okta during the first quarter valued at $225,000. NewEdge Advisors LLC lifted its stake in shares of Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company's stock valued at $582,000 after purchasing an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Okta in the 2nd quarter valued at approximately $244,000. Invesco Ltd. lifted its stake in shares of Okta by 34.1% in the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company's stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company's stock valued at $162,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Arete Research upgraded Okta from Sell to Buy and set a $127 price target, citing expectations for a modest beat-and-raise quarter. Arete Upgrades Okta, Inc. (OKTA) Rating to Buy
• Positive Sentiment: Multiple recent analyst notes have turned constructive, with price-target hikes from firms including Cantor Fitzgerald, BTIG, KeyBanc, and others, reinforcing optimism around Okta’s execution and workforce identity demand.
• Positive Sentiment: Pre-earnings trading appears to be boosting the stock as investors look for strong results and guidance, supported by themes like AI-driven security demand, rising remaining performance obligations, and partner growth. Earnings To Watch: Okta (OKTA) Reports Q1 Results Tomorrow

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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