Okta's (OKTA) "Buy" Rating Reiterated at DA Davidson

Key Points

• Analysts at DA Davidson have reiterated a "buy" rating for Okta (OKTA), maintaining a target price of $140.00, which implies a potential upside of 53.53% from the current price.
• Insider activity has seen significant selling, with Eric Robert Kelleher selling 16,018 shares, reducing his ownership by nearly 70%.
• For FY 2026, Okta has set guidance at 3.330-3.380 EPS, indicating positive growth prospects as revenues were up 12.7% year-over-year.

Okta (NASDAQ:OKTA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at DA Davidson in a report released on Friday,Benzinga reports. They currently have a $140.00 target price on the stock. DA Davidson's price objective points to a potential upside of 53.53% from the company's current price.

OKTA has been the topic of several other reports. Westpark Capital reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, August 27th. BMO Capital Markets reduced their price target on Okta from $132.00 to $112.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 27th. BTIG Research reiterated a "buy" rating and set a $142.00 target price on shares of Okta in a report on Friday. Finally, Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.14.

Okta Stock Up 1.5%

OKTA opened at $91.19 on Friday. Okta has a twelve month low of $70.92 and a twelve month high of $127.57. The company has a market cap of $15.96 billion, a PE ratio of 107.28, a price-to-earnings-growth ratio of 4.41 and a beta of 0.83. The company has a 50-day moving average price of $92.99 and a 200 day moving average price of $101.39.

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

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider owned 7,044 shares of the company's stock, valued at $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 3,348 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total value of $301,889.16. Following the completion of the sale, the insider owned 39,155 shares in the company, valued at approximately $3,530,606.35. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,593 shares of company stock valued at $12,598,168. 5.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently modified their holdings of OKTA. TD Private Client Wealth LLC boosted its holdings in Okta by 19.6% during the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock worth $59,000 after purchasing an additional 92 shares during the last quarter. Allworth Financial LP increased its position in shares of Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Okta by 12.6% in the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock worth $89,000 after buying an additional 92 shares during the period. GPS Wealth Strategies Group LLC raised its stake in Okta by 7.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after buying an additional 100 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Okta by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after purchasing an additional 108 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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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