Okta, Inc. (NASDAQ:OKTA) Receives $118.94 Average Price Target from Analysts

Okta, Inc. (NASDAQ:OKTA) has received a consensus rating of “Moderate Buy” from the thirty-eight ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $117.6857.

OKTA has been the subject of several recent research reports. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Okta in a research note on Friday. Truist Financial raised shares of Okta from a “hold” rating to a “buy” rating and raised their price target for the stock from $100.00 to $125.00 in a research note on Monday, August 25th. Citigroup reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. JMP Securities reiterated a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Finally, BTIG Research reissued a “buy” rating and issued a $142.00 target price on shares of Okta in a research note on Friday, September 26th.

Okta Stock Up 0.2%

OKTA stock opened at $83.94 on Monday. Okta has a 52 week low of $71.84 and a 52 week high of $127.57. The firm has a 50-day simple moving average of $89.82 and a 200-day simple moving average of $97.42. The stock has a market capitalization of $14.70 billion, a P/E ratio of 98.75, a P/E/G ratio of 4.12 and a beta of 0.84.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period last year, the company posted $0.72 EPS. Okta’s quarterly revenue 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. On average, analysts expect that Okta will post 0.42 earnings per share for the current year.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total value of $301,889.16. Following the completion of the sale, the insider directly owned 39,155 shares of the company’s stock, valued at $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,975 shares of company stock valued at $6,011,126 in the last 90 days. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares during the period. Pinnacle Bancorp Inc. acquired a new position in Okta in the second quarter valued at approximately $26,000. Promus Capital LLC acquired a new position in Okta in the second quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new position in Okta in the third quarter worth approximately $26,000. Finally, Cullen Frost Bankers Inc. increased its stake in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Company Profile

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.