Wells Fargo & Company Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

Key Points

• Wells Fargo raised its price target on Okta from $76 to $85 while keeping an equal weight rating, implying a modest downside from the current share price.
• Broader analyst sentiment remains constructive: Okta has a Moderate Buy consensus, with 30 Buy ratings, and a consensus price target of $101.86.
• Okta’s recent quarterly results beat expectations, with $0.90 EPS versus $0.85 expected and revenue of $761 million, up 11.6% year over year.

Okta (NASDAQ:OKTA - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $76.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential downside of 5.31% from the stock's current price.

OKTA has been the topic of several other research reports. Cantor Fitzgerald cut their price target on Okta from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $134.00 price target on shares of Okta in a research note on Friday, March 6th. Raymond James Financial raised Okta from a "market perform" rating to an "outperform" rating and set a $85.00 price target on the stock in a research note on Thursday, April 16th. BMO Capital Markets raised Okta from a "market perform" rating to an "outperform" rating and upped their price target for the company from $83.00 to $97.00 in a research note on Friday, March 6th. Finally, DA Davidson reiterated a "buy" rating and issued a $110.00 price objective on shares of Okta in a report on Thursday, March 5th. Thirty analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.86.

Okta Stock Performance

Okta stock traded up $0.73 on Thursday, reaching $89.77. The company's stock had a trading volume of 1,248,390 shares, compared to its average volume of 3,358,167. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 68.52, a PEG ratio of 3.34 and a beta of 0.59. The business's fifty day moving average price is $77.45 and its 200 day moving average price is $82.52. Okta has a twelve month low of $62.66 and a twelve month high of $127.52.

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

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 23,304 shares of the company's stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the sale, the executive owned 4,364 shares in the company, valued at approximately $339,475.56. This represents a 84.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David Schellhase acquired 3,712 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average price of $72.04 per share, with a total value of $267,412.48. Following the acquisition, the director directly owned 3,712 shares of the company's stock, valued at $267,412.48. The trade was a ∞ increase in their position. 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. Insiders have sold a total of 70,884 shares of company stock valued at $5,625,648 in the last ninety days. 4.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Large investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in shares of Okta in the third quarter worth about $26,000. Elevation Wealth Partners LLC increased its holdings in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock worth $26,000 after acquiring an additional 264 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Okta in the fourth quarter worth about $27,000. Torren Management LLC bought a new stake in shares of Okta in the fourth quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the third quarter worth about $34,000. 86.64% of the stock is currently owned by institutional investors.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target on Okta to $105 from $90 and reiterated a Buy rating, signaling confidence in further upside. BTIG price target raise report
• Positive Sentiment: Jefferies said Okta is likely to beat its first-quarter bookings target and kept a Buy rating with a $105 price target, although it flagged the possibility of softer Q2 guidance. Jefferies note on Okta bookings and guidance
• Positive Sentiment: Okta was named a Leader in Forrester’s 2026 Workforce Identity Security Platforms report, reinforcing its competitive position in identity security. Forrester Wave leadership announcement
• Neutral Sentiment: TD Cowen maintained a Hold rating, which is more cautious but does not materially change the broader bullish analyst tone. TD Cowen hold rating
• Negative Sentiment: Director Shellye Archambeau sold 2,500 shares in a pre-planned Rule 10b5-1 transaction, a modest insider-selling signal that may temper enthusiasm. SEC insider filing

About Okta

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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