Okta’s (OKTA) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Okta (NASDAQ:OKTA) in a research report sent to investors on Friday,Benzinga reports. They currently have a $110.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America reaffirmed an “underperform” rating and set a $75.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $115.00 price target on shares of Okta in a research note on Wednesday, December 3rd. The Goldman Sachs Group decreased their price target on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Berenberg Bank began coverage on Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price objective on the stock. 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 investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $112.91.

Okta Stock Performance

Shares of OKTA opened at $90.18 on Friday. The stock has a 50-day simple moving average of $86.38 and a 200-day simple moving average of $92.16. The stock has a market capitalization of $15.98 billion, a PE ratio of 82.73, a PEG ratio of 4.25 and a beta of 0.78. Okta has a 1 year low of $75.05 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’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. Analysts predict that Okta will post 0.42 EPS for the current year.

Insider Activity

In other news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. The trade was a 46.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 66,293 shares of company stock valued at $6,124,092. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Okta during the 2nd quarter worth approximately $211,923,000. Alkeon Capital Management LLC purchased a new stake in shares of Okta in the first quarter valued at approximately $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 during the period. Vanguard Group Inc. raised its position in 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 in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Okta by 276.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after acquiring an additional 1,031,083 shares during the period. 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.