DA Davidson Reaffirms Buy Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $140.00 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 62.98% from the stock’s current price.

A number of other brokerages have also issued reports on OKTA. Roth Capital reiterated a “buy” rating on shares of Okta in a report on Wednesday. BMO Capital Markets decreased their price target on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday. Needham & Company LLC lowered their price target on shares of Okta from $125.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday. Cowen reissued a “hold” rating on shares of Okta in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday. Twenty-three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.08.

Okta Stock Down 0.5%

Shares of OKTA stock opened at $85.90 on Wednesday. Okta has a twelve month low of $75.05 and a twelve month high of $127.57. The business has a fifty day simple moving average of $86.88 and a 200 day simple moving average of $93.96. The company has a market cap of $15.04 billion, a P/E ratio of 78.81, a P/E/G ratio of 4.24 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same period in the prior year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. 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, equities research analysts anticipate that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,975 shares of company stock valued at $6,011,126 in the last ninety days. Insiders own 5.68% of the company’s stock.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Okta during the 2nd quarter valued at approximately $211,923,000. Alkeon Capital Management LLC purchased a new stake in Okta during the 1st quarter valued at about $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $289,234,000 after acquiring an additional 1,189,222 shares in the last quarter. Vanguard Group Inc. increased its holdings in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake 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.