Okta (NASDAQ:OKTA) Price Target Raised to $175.00

Okta (NASDAQ:OKTA) had its price objective hoisted by TD Cowen from $160.00 to $175.00 in a research note released on Thursday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

OKTA has been the subject of several other research reports. HC Wainwright initiated coverage on shares of Okta in a research note on Monday, July 6th. They issued a “buy” rating for the company. Canaccord Genuity Group increased their target price on shares of Okta from $115.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein raised their target price on shares of Okta from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Okta from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of Okta in a research report on Monday, July 6th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus target price of $172.92.

Okta Price Performance

Shares of NASDAQ OKTA opened at $166.23 on Thursday. The stock’s fifty day moving average price is $141.34 and its two-hundred day moving average price is $105.53. Okta has a one year low of $62.66 and a one year high of $174.85. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 100.14, a P/E/G ratio of 5.94 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts anticipate that Okta will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider directly owned 19,618 shares of the company’s stock, valued at $2,238,413.80. This trade represents a 16.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 165,347 shares of company stock valued at $21,827,342. 4.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in OKTA. Integrated Wealth Concepts LLC bought a new stake in shares of Okta during the first quarter worth $225,000. NewEdge Advisors LLC lifted its stake in shares of Okta by 853.4% in the 1st 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 shares of Okta during the 2nd quarter valued at $244,000. Invesco Ltd. boosted its holdings in shares of Okta by 34.1% during the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after acquiring an additional 109,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 122.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after acquiring an additional 893 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

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.