Okta (NASDAQ:OKTA) Price Target Raised to $120.00 at Truist Financial

Okta (NASDAQ:OKTA) had its target price boosted by stock analysts at Truist Financial from $100.00 to $120.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 26.69% from the stock’s previous close.

A number of other brokerages have also recently weighed in on OKTA. Sanford C. Bernstein restated an “outperform” rating and set a $134.00 price objective on shares of Okta in a research note on Friday, March 6th. BMO Capital Markets boosted their target price on shares of Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. BTIG Research increased their price target on shares of Okta from $105.00 to $119.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald lifted their price objective on shares of Okta from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, HSBC upgraded shares of Okta to a “buy” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $107.03.

Okta Stock Performance

NASDAQ OKTA opened at $94.72 on Friday. The company has a market cap of $16.76 billion, a PE ratio of 72.31, a P/E/G ratio of 3.49 and a beta of 0.59. The firm’s 50 day moving average price is $79.01 and its 200-day moving average price is $82.69. Okta has a 52-week low of $62.66 and a 52-week high of $107.84.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts forecast that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the sale, the executive directly owned 4,364 shares in the company, valued at approximately $339,475.56. The trade was a 84.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director directly owned 9,192 shares in the company, valued at approximately $781,320. The trade was a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 70,884 shares of company stock valued at $5,625,648. Insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in Okta during the 1st quarter worth approximately $225,000. NewEdge Advisors LLC increased its stake in shares of Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after acquiring an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new position in Okta during the second quarter valued at $244,000. Invesco Ltd. boosted its holdings in Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Okta by 122.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after purchasing an additional 893 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Q1 expectations with revenue of $765 million and adjusted EPS of $0.91, topping consensus and showing 11.2% year-over-year revenue growth. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management issued Q2 and full-year FY2027 guidance above or in line with estimates, reinforcing confidence in execution and future growth. Okta earnings report and conference call materials
• Positive Sentiment: Multiple firms raised targets after the earnings release, including JPMorgan to $114, BTIG to $119, Needham to $120, BMO to $120, Mizuho to $110, and Oppenheimer to $125, signaling stronger Street conviction. Analyst price target updates
• Positive Sentiment: Analysts highlighted improving enterprise momentum and AI-driven identity demand, which could expand Okta’s long-term market opportunity. Okta to Present at Upcoming Investor Conferences
• Neutral Sentiment: Okta announced it will present at upcoming investor conferences, which keeps management in front of investors but is not, by itself, a new operating catalyst. Okta to Present at Upcoming Investor Conferences

Okta Company Profile

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.