Okta (NASDAQ:OKTA) Price Target Raised to $187.00 at BTIG Research

Okta (NASDAQ:OKTA) had its price target upped by equities research analysts at BTIG Research from $167.00 to $187.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 39.12% from the stock’s current price.

OKTA has been the subject of a number of other research reports. Jefferies Financial Group set a $200.00 target price on shares of Okta in a research note on Thursday. Sanford C. Bernstein cut Okta from an “outperform” rating to a “hold” rating in a research note on Monday, July 6th. KeyCorp reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Okta in a research report on Friday, August 21st. Citizens Jmp upgraded Okta from a “market perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $148.74.

Okta Trading Up 2.9%

Shares of NASDAQ OKTA opened at $134.42 on Thursday. The stock has a market cap of $23.36 billion, a P/E ratio of 97.41, a PEG ratio of 4.70 and a beta of 0.77. The business’s fifty day simple moving average is $139.27 and its 200-day simple moving average is $104.50. Okta has a 12-month low of $62.66 and a 12-month high of $157.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. 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 forecast that Okta will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The transaction 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 Larissa Schwartz sold 24,971 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the sale, the insider directly owned 23,477 shares in the company, valued at approximately $3,148,970.01. This represents a 51.54% 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 three months, insiders have sold 165,347 shares of company stock worth $21,827,342. 4.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

Large investors have recently bought and sold shares of the stock. Schulz Wealth LTD. acquired a new stake in shares of Okta during the second quarter valued at $312,000. Brown Financial Advisors acquired a new position in shares of Okta in the second quarter valued at approximately $280,000. Groupe la Francaise acquired a new position in shares of Okta in the second quarter valued at approximately $461,000. California State Teachers Retirement System lifted its stake in shares of Okta by 13,755.2% during the second quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock valued at $4,949,942,000 after buying an additional 36,014,770 shares during the period. Finally, Washington Trust Advisors Inc. boosted its position in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly results exceeded expectations. Okta reported adjusted earnings of $1.05 per share versus the $0.96 analyst consensus, while revenue increased 10.6% year over year to $805 million, topping estimates of $793 million. Okta Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Raised guidance provides an additional catalyst. Okta now expects fiscal 2027 revenue of approximately $3.216 billion to $3.226 billion, representing 10% to 11% growth and above its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue guidance of $813 million to $817 million and EPS guidance of $0.92 to $0.94 also exceeded Wall Street expectations. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: AI-related demand is strengthening Okta’s growth narrative. Management highlighted increasing adoption of AI agents, new products contributing roughly 30% of bookings, record non-fourth-quarter bookings and partner-led sales. Investors view identity controls as increasingly important for securing AI-driven workflows. Okta and CrowdStrike Stocks Jump After Earnings
• Neutral Sentiment: Analyst support improved, but valuation remains a consideration. Robert W. Baird reiterated a Buy rating and set a $185 price target. However, Okta’s elevated valuation—including a P/E ratio near 97—may limit further gains if growth or guidance begins to slow. Okta Buy Rating and Raised Price Target

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.