Guggenheim Reaffirms Buy Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $138.00 target price on the stock. Guggenheim’s price objective points to a potential upside of 60.65% from the stock’s previous close.

A number of other analysts have also weighed in on OKTA. Bank of America reissued an “underperform” rating and issued a $75.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Berenberg Bank assumed coverage on Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 target price on the stock. KeyCorp reissued an “overweight” rating and set a $140.00 price target on shares of Okta in a research note on Monday. BMO Capital Markets dropped their price objective on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Twenty-three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.08.

Okta Stock Down 0.5%

Shares of OKTA opened at $85.90 on Wednesday. The business has a fifty day moving average of $86.88 and a 200 day moving average of $93.96. The company has a market cap of $15.04 billion, a PE ratio of 78.81, a P/E/G ratio of 4.24 and a beta of 0.77. Okta has a 52-week low of $75.05 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. The business’s revenue 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, research analysts anticipate that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 3,348 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the transaction, the insider owned 39,155 shares in the company, valued at approximately $3,530,606.35. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 64,975 shares of company stock worth $6,011,126. Insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. Pinnacle Bancorp Inc. bought a new position in Okta in the second quarter worth approximately $26,000. Root Financial Partners LLC bought a new stake in Okta during the 3rd quarter valued at $26,000. Harbour Investments Inc. increased its holdings in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the period. Promus Capital LLC bought a new position in shares of Okta in the 2nd quarter worth $27,000. Finally, Kiker Wealth Management LLC raised its position in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after acquiring an additional 313 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

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.