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

Key Points

• Okta's stock receives a "Hold (C-)" rating from Weiss Ratings, reflecting cautious sentiments from analysts regarding its current performance.
• Scotiabank has lowered its target price for Okta's stock to $105.00, while Wall Street Zen upgraded it to a "buy" rating, indicating mixed views on its valuation.
• Okta reported a quarterly earnings per share of $0.91, surpassing estimates, and its revenue increased by 12.7% year-over-year, signalling robust operational growth.

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

A number of other brokerages also recently weighed in on OKTA. Scotiabank lowered their target price on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a report on Wednesday, August 27th. Arete assumed coverage on Okta in a report on Monday, July 7th. They set a "sell" rating and a $83.00 price objective for the company. Wall Street Zen upgraded Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Royal Bank Of Canada restated an "outperform" rating and set a $115.00 price objective on shares of Okta in a report on Friday, September 26th. Finally, BMO Capital Markets decreased their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of "Hold" and an average target price of $118.94.

Okta Stock Performance

Shares of OKTA stock opened at $89.07 on Friday. The company has a market cap of $15.59 billion, a P/E ratio of 104.79, a PEG ratio of 4.37 and a beta of 0.84. The stock has a 50 day simple moving average of $91.09 and a two-hundred day simple moving average of $98.97. Okta has a fifty-two week low of $70.92 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share 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 firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, research analysts predict that Okta will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 2,410 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares in the company, valued at approximately $841,531.02. This represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 1,318 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the sale, the insider owned 37,837 shares of the company's stock, valued at $3,467,761.05. This trade represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,657 shares of company stock valued at $5,898,754 in the last three months. Insiders own 5.68% of the company's stock.

Institutional Investors Weigh In On Okta

Several institutional investors have recently bought and sold shares of OKTA. TD Private Client Wealth LLC boosted its position in 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 purchasing an additional 92 shares during the last quarter. Allworth Financial LP boosted its position in 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 purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in 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 purchasing an additional 92 shares during the last quarter. First Horizon Advisors Inc. boosted its position in 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 purchasing an additional 108 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company's stock worth $224,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

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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