Canaccord Genuity Group Lowers Okta (NASDAQ:OKTA) Price Target to $95.00

Okta (NASDAQ:OKTA) had its price objective lowered by analysts at Canaccord Genuity Group from $120.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 19.27% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a research report on Monday, December 1st. KeyCorp decreased their target price on shares of Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday. Berenberg Bank dropped their price target on Okta from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday. Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.97.

Okta Price Performance

Shares of OKTA stock traded up $7.91 on Thursday, hitting $79.65. 8,908,108 shares of the company’s stock were exchanged, compared to its average volume of 3,194,575. The company has a 50 day moving average of $85.40 and a 200 day moving average of $87.51. The stock has a market cap of $14.12 billion, a P/E ratio of 73.07, a price-to-earnings-growth ratio of 2.81 and a beta of 0.79. Okta has a 12 month low of $68.77 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The firm had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Sell-side analysts predict that Okta will post 0.42 EPS for the current fiscal year.

Okta announced that its board has authorized a share buyback plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 8,370 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $90.19, for a total transaction of $754,890.30. Following the completion of the transaction, the insider directly owned 11,266 shares in the company, valued at $1,016,080.54. This trade represents a 42.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of Okta stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. The SEC filing for this sale provides additional information. Insiders sold a total of 37,245 shares of company stock valued at $3,385,624 over the last 90 days. 5.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OKTA. Integrated Wealth Concepts LLC acquired a new stake in shares of Okta during the first quarter worth $225,000. NewEdge Advisors LLC boosted its position in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Okta during the 2nd quarter worth about $244,000. Hantz Financial Services Inc. raised its position in shares of Okta by 572.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock worth $54,000 after acquiring an additional 458 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Okta by 5,770.0% in the 2nd quarter. Assetmark Inc. now owns 587 shares of the company’s stock worth $59,000 after acquiring an additional 577 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 beat on revenue and key metrics — Okta delivered revenue growth (~11.6% YoY) and subscription momentum, plus stronger remaining performance obligations (cRPO), which underpins the rally. Zacks: Q4 beat
• Positive Sentiment: AI agents narrative gives investors a visible growth story — management is positioning Okta as the identity layer for “AI agents,” a product push investors see as a multi?year catalyst for identity/security spend. Yahoo: Okta Sees AI Agents
• Positive Sentiment: Analysts keep some conviction — Jefferies reiterated a Buy and $105 target after the print, calling Okta’s focus on accelerating revenue growth encouraging; several other firms reaffirmed Buy ratings (DA Davidson, UBS, Oppenheimer, etc.). Proactive: Jefferies note
• Neutral Sentiment: Mixed guidance — Okta’s Q1 revenue outlook came in slightly below Wall Street estimates and management signaled slower top?line growth early in FY27, creating uncertainty about near?term growth trajectory. (Guidance contains bright spots on EPS/cash flow but is viewed as cautious.) Reuters: guidance/slow growth
• Negative Sentiment: Widespread price?target cuts — despite the beat, many firms trimmed targets (Piper, Citi, Scotiabank, Berenberg, Deutsche Bank, KeyCorp, Needham, Morgan Stanley and others), which reduces analyst?driven upside and could cap the rally. Benzinga: analyst cuts
• Negative Sentiment: Market reaction is mixed?term risk: while shares rose on the beat and AI narrative, softer near?term revenue guidance and a deceleration in key retention/large?ACV metrics raise questions about sustaining high growth multiples. MarketWatch: rally but cautious guidance

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.