Okta (OKTA) News Today

Okta, Inc. (NASDAQ:OKTA) shares are down amid mixed earnings results, cautious guidance and a flurry of analyst revisions.

• Goldman Sachs raised its price target on OKTA from $123 to $137 and maintained a Buy rating.
• Stifel Nicolaus, Evercore ISI, Westpark Capital and Needham & Company lifted their targets to $130, $130, $140 and $125 respectively, all with Buy/Outperform ratings.
• Wells Fargo and Canaccord Genuity increased their targets to $110 and $115, citing Okta’s strong market position.
• Okta delivered record Q1 profitability with 12% year-over-year revenue growth, suite-based pricing roll-out and robust free cash flow.
• Management provided FY 2026 EPS guidance of $3.230–$3.280 and Q2 EPS guidance of $0.830–$0.840.
• JMP Securities reiterated a Market Perform rating, while the median analyst target remains $128 with most still favoring Buy.
• Previous Q1 results beat estimates (revenue $688 M vs. $680 M; EPS $0.86 vs. $0.77), though forward commentary disappointed some investors.
• CEO Todd McKinnon defended the cautious outlook on Bloomberg, emphasizing macroeconomic uncertainties.
• In its latest quarter Okta reported EPS of $0.42, missing consensus by $0.35.
• Multiple firms cut their price targets – Mizuho to $130, BMO to $132, DA Davidson to $140, RBC to $135, UBS to $130, Guggenheim to $138 and Barclays to $120.
• Shares gapped down on an analyst downgrade, and short interest jumped 38.8% in May, raising bearish pressure.
• Cautious guidance amid macro uncertainty prompted an 11% share decline after the quarterly report.