Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of “Moderate Buy” from Brokerages

Okta, Inc. (NASDAQ:OKTA) has been given a consensus recommendation of “Moderate Buy” by the thirty-nine brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $112.5588.

OKTA has been the topic of a number of research analyst reports. Barclays decreased their price target on Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 18th. BTIG Research decreased their target price on shares of Okta from $142.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Berenberg Bank assumed coverage on shares of Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price for the company. Scotiabank dropped their price target on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 3rd. Finally, Wall Street Zen lowered shares of Okta from a “buy” rating to a “hold” rating in a report on Saturday, February 7th.

Okta Stock Performance

OKTA stock opened at $82.46 on Wednesday. The company has a 50 day moving average price of $88.76 and a two-hundred day moving average price of $88.88. The stock has a market capitalization of $14.61 billion, a P/E ratio of 75.65, a PEG ratio of 3.48 and a beta of 0.77. Okta has a one year low of $75.05 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $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. Research analysts forecast that Okta will post 0.42 earnings per share for the current fiscal year.

Okta declared that its Board of Directors has authorized a stock repurchase program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 11,286 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the sale, the insider owned 38,164 shares of the company’s stock, valued at $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,245 shares of company stock worth $3,385,624 over the last ninety days. 5.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Promus Capital LLC acquired a new stake in shares of Okta in the second quarter worth $27,000. Root Financial Partners LLC acquired a new position in shares of Okta during the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC boosted its position in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in Okta in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.