Needham & Company LLC Lowers Okta (NASDAQ:OKTA) Price Target to $110.00

Okta (NASDAQ:OKTA) had its target price dropped by investment analysts at Needham & Company LLC from $125.00 to $110.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 28.06% from the company’s previous close.

A number of other research firms have also recently weighed in on OKTA. Canaccord Genuity Group upgraded shares of Okta from a “hold” rating to a “buy” rating and lifted their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Robert W. Baird decreased their price target on Okta from $142.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. JPMorgan Chase & Co. cut their target price on Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho decreased their target price on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Finally, Roth Capital restated a “buy” rating on shares of Okta in a research note on Wednesday. Twenty-three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.08.

Okta Stock Down 0.5%

NASDAQ OKTA opened at $85.90 on Wednesday. Okta has a 52 week low of $75.05 and a 52 week high of $127.57. The company has a market capitalization of $15.04 billion, a P/E ratio of 78.81, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The stock’s 50-day moving average price is $86.88 and its 200-day moving average price is $93.96.

Okta (NASDAQ:OKTA) last released its 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 analyst estimates of $730.23 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly 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. Research analysts anticipate that Okta will post 0.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $85.26, for a total value of $112,372.68. Following the completion of the transaction, the insider owned 36,519 shares of the company’s stock, valued at approximately $3,113,609.94. This trade represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the completion of the transaction, the insider owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. This represents a 20.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,975 shares of company stock valued at $6,011,126 in the last three months. Corporate insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

Several institutional investors have recently modified their holdings of OKTA. Smartleaf Asset Management LLC increased its position in shares of Okta by 12.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after purchasing an additional 92 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after acquiring an additional 113 shares during the period. Norden Group LLC lifted its holdings in shares of Okta by 3.7% in the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after acquiring an additional 116 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Okta by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock worth $113,000 after purchasing an additional 120 shares during the period. Finally, Simon Quick Advisors LLC grew its holdings in Okta by 2.5% during the 2nd quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock valued at $511,000 after purchasing an additional 126 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

About Okta

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.