Okta's (OKTA) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Okta's stock rating was reaffirmed as "Hold (C-)" by Weiss Ratings, which follows recent upgrades from multiple research firms that have shifted their ratings to "Buy" and raised price targets.
• The company's most recent earnings report showed a Q2 profit of $0.91 EPS, surpassing consensus estimates, while revenues rose 12.7% year-over-year to $728 million.
• Okta currently has a market capitalization of $16.22 billion and holds a consensus rating of "Hold" with an average price target of $118.94 among analysts.

Okta (NASDAQ:OKTA - Get Free Report)'s stock had its "hold (c-)" rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on OKTA. Jefferies Financial Group boosted their price objective on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, August 27th. Wall Street Zen raised Okta from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. Canaccord Genuity Group raised Okta from a "hold" rating to a "buy" rating and upped their price target for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Finally, Westpark Capital reissued a "buy" rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $118.94.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $92.63 on Wednesday. The stock's 50-day simple moving average is $92.11 and its two-hundred day simple moving average is $100.21. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 108.98, a PEG ratio of 4.46 and a beta of 0.84. Okta has a 52-week low of $70.92 and a 52-week high of $127.57.

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

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive directly owned 7,067 shares of the company's stock, valued at approximately $706,700. This represents a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale can be found here. Insiders have sold a total of 147,003 shares of company stock worth $13,769,238 over the last ninety days. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its stake in shares of Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock worth $59,000 after acquiring an additional 92 shares during the last quarter. Allworth Financial LP increased its stake in shares of Okta by 5.7% in the first quarter. Allworth Financial LP now owns 1,708 shares of the company's stock worth $173,000 after acquiring 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 acquiring an additional 92 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of 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 acquiring an additional 100 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Okta by 18.9% in the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock worth $71,000 after acquiring an additional 108 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

About Okta

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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