BTIG Research Issues Pessimistic Forecast for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price target cut by BTIG Research from $116.00 to $90.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 24.10% from the company’s current price.

Several other equities research analysts have also weighed in on the company. KeyCorp lowered their price objective on Okta from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Okta in a research report on Friday, December 12th. Stifel Nicolaus dropped their price objective on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. TD Cowen cut their price objective on Okta from $115.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and an average target price of $107.50.

Okta Stock Performance

Shares of OKTA stock opened at $72.52 on Monday. The firm has a fifty day moving average of $85.73 and a 200-day moving average of $87.62. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 66.53, a P/E/G ratio of 2.87 and a beta of 0.79. Okta has a 52-week low of $68.77 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Okta will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has approved a share repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the transaction, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 1,836 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.47, for a total transaction of $153,250.92. Following the sale, the insider directly owned 36,328 shares in the company, valued at $3,032,298.16. This trade represents a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Okta during the third quarter worth $26,000. Elevation Wealth Partners LLC increased its position in Okta by 825.0% in the fourth 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. Promus Capital LLC bought a new stake in Okta during the 2nd quarter worth about $27,000. Torren Management LLC bought a new stake in Okta during the 4th quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Okta during the 3rd quarter valued at about $34,000. 86.64% of the stock is currently owned by institutional investors.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Jefferies kept a Buy rating on OKTA even after trimming its price target to $105, which signals continued conviction from a major sell‑side shop despite the cut. Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Robert W. Baird reiterated a Buy rating with a $125 target, highlighting bullish views around identity/security and AI tailwinds that could support upside. Okta: Strengthening Identity Security Amid AI Adoption
• Positive Sentiment: Okta will present at an investor conference — management access often tempers uncertainty ahead of earnings and can reinforce messaging on AI/security progress. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: The company is set to report Q4 results tomorrow (Mar. 4); previews expect steady revenue growth, rising RPO and AI‑security momentum but warn of macro and competitive pressures — this event is the near‑term catalyst. Dear Okta Stock Fans, Mark Your Calendars for March 4
• Neutral Sentiment: Media pieces discussing analyst ratings and whether to buy/hold/sell can amplify moves but provide limited new info; treat as sentiment drivers rather than fundamental changes. Wall Street Bulls Look Optimistic About Okta (OKTA)
• Negative Sentiment: Several firms cut price targets or set conservative ratings recently (Cantor Fitzgerald to $100, BTIG to $90, BMO trimmed its PT to $83 and kept Market Perform, Wells Fargo initiated at Equal Weight/$76) — the cluster of downward PT moves pressures sentiment and likely contributed to today’s decline. Cantor Fitzgerald Cuts Okta Price Target to $100 Benzinga Coverage BMO Capital Expects Solid Q1 Results
• Negative Sentiment: High-profile commentary questioned Okta’s differentiation in an AI era (Jim Cramer noted market skepticism that chatbots could displace some identity functions), which can stoke investor caution ahead of the report. Jim Cramer on Okta

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.