Cantor Fitzgerald Reaffirms “Overweight” Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They presently have a $115.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 33.88% from the stock’s previous close.

Several other analysts also recently commented on OKTA. Berenberg Bank assumed coverage on shares of Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price for the company. Robert W. Baird decreased their price objective on shares of Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Westpark Capital reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, August 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $120.00 target price on shares of Okta in a report on Wednesday. Finally, KeyCorp reaffirmed an “overweight” rating and set a $140.00 price target on shares of Okta in a research report on Monday. Twenty-three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Okta has an average rating of “Moderate Buy” and an average price target of $112.08.

Okta Price Performance

OKTA opened at $85.90 on Wednesday. Okta has a fifty-two week low of $75.05 and a fifty-two week high of $127.57. The firm has a market capitalization of $15.04 billion, a PE ratio of 78.81, a P/E/G ratio of 4.24 and a beta of 0.77. The company’s 50-day moving average is $86.88 and its 200 day moving average is $93.96.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, analysts expect that Okta will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer directly owned 133,336 shares in the company, valued at $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the transaction, the insider directly owned 9,174 shares in the company, valued at $841,531.02. This represents a 20.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,975 shares of company stock valued at $6,011,126. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

Several large investors have recently modified their holdings of OKTA. Norges Bank purchased a new stake in shares of Okta during the 2nd quarter valued at approximately $211,923,000. Alkeon Capital Management LLC bought a new stake in Okta during the 1st quarter valued at $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Okta by 76.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after acquiring an additional 1,189,222 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Okta by 276.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after acquiring an additional 1,031,083 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.