Okta (NASDAQ:OKTA) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Okta (NASDAQ:OKTA) in a report published on Friday morning,Benzinga reports. BTIG Research currently has a $142.00 target price on the stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Okta in a report on Wednesday, August 27th. Jefferies Financial Group raised their price objective on shares of Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Arete assumed coverage on shares of Okta in a report on Monday, July 7th. They issued a “sell” rating and a $83.00 price target for the company. Finally, Citigroup reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.

Okta Trading Down 0.0%

NASDAQ OKTA opened at $91.16 on Friday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 107.25, a PEG ratio of 4.48 and a beta of 0.83. The company has a 50 day moving average of $92.91 and a 200-day moving average of $101.28. Okta has a 1-year low of $70.92 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business 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, analysts forecast that Okta will post 0.42 earnings per share for the current year.

Insider Activity

In other Okta news, insider Eric Robert Kelleher sold 8,522 shares of Okta stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total transaction of $789,307.64. Following the completion of the sale, the insider owned 9,174 shares of the company’s stock, valued at approximately $849,695.88. The trade was a 48.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares in the company, valued at approximately $12,567,360. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,593 shares of company stock worth $12,598,168. Corporate insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently made changes to their positions in OKTA. Wolff Wiese Magana LLC boosted its position in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of Okta during the second quarter worth $26,000. Wayfinding Financial LLC bought a new position in shares of Okta during the first quarter worth $27,000. Harbour Investments Inc. boosted its position in shares of Okta by 152.4% during the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Finally, Promus Capital LLC bought a new stake in Okta in the 2nd quarter valued at $27,000. 86.64% of the stock is owned by institutional investors.

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.