Royal Bank Of Canada Lowers Okta (NASDAQ:OKTA) Price Target to $97.00

Okta (NASDAQ:OKTA) had its price target decreased by equities research analysts at Royal Bank Of Canada from $115.00 to $97.00 in a report released on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 12.92% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Wednesday, August 27th. Citigroup reduced their target price on shares of Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Mizuho decreased their price target on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, November 17th. Barclays cut their price objective on Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 18th. Finally, Jefferies Financial Group set a $90.00 target price on Okta and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.08.

Okta Trading Down 0.5%

Shares of Okta stock opened at $85.90 on Wednesday. The business’s fifty day moving average price is $86.88 and its 200 day moving average price is $93.96. Okta has a twelve month low of $75.05 and a twelve month high of $127.57. The stock has a market capitalization of $15.04 billion, a P/E ratio of 78.81, a PEG 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 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The company 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 firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. 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, sell-side analysts predict that Okta will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eric Robert Kelleher sold 2,410 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 9,174 shares in the company, valued at approximately $841,531.02. The trade was a 20.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 133,336 shares in the company, valued at $12,666,920. This represents a 6.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

Institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares during the period. Pinnacle Bancorp Inc. acquired a new position in shares of Okta during the 2nd quarter valued at $26,000. Promus Capital LLC acquired a new stake in shares of Okta in the second quarter valued at $27,000. Root Financial Partners LLC acquired a new position in Okta during the third quarter worth about $26,000. Finally, Cullen Frost Bankers Inc. raised its position in Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.