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

Okta, Inc. (NASDAQ:OKTA) has been assigned an average recommendation of “Moderate Buy” from the forty analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, twenty-nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $102.4412.

OKTA has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $134.00 target price on shares of Okta in a report on Friday, March 6th. Stifel Nicolaus lowered their price target on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Berenberg Bank dropped their price target on Okta from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Scotiabank cut their price objective on Okta from $85.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. Finally, BMO Capital Markets upgraded Okta from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $83.00 to $97.00 in a research report on Friday, March 6th.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street expectations on both earnings and revenue, posting $0.91 in non-GAAP EPS versus the $0.85 consensus and $765 million in revenue versus $751.9 million expected. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management also raised guidance above analyst forecasts, with Q2 FY2027 EPS guidance of $0.95-$0.97 versus $0.84 expected and FY2027 EPS guidance of $3.79-$3.87 versus $3.36 expected. Compared to Estimates, Okta (OKTA) Q1 Earnings: A Look at Key Metrics
• Positive Sentiment: Investors also appear encouraged by commentary around AI-agent identity management, which management says is creating a large opportunity for Okta’s cybersecurity platform. Okta shares rise on earnings beat and AI-agent opportunity
• Neutral Sentiment: Several brokerages turned more constructive ahead of the report, including a JPMorgan price-target hike to $114 and an Arete upgrade to Buy, which helped support sentiment into earnings. JPMorgan price target raise / Arete upgrade coverage

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the sale, the executive directly owned 4,364 shares in the company, valued at $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 16,818 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00. Following the completion of the sale, the insider directly owned 15,470 shares in the company, valued at $1,237,600. This represents a 52.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 70,884 shares of company stock valued at $5,625,648. 4.61% of the stock is currently owned by insiders.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in Okta by 40.1% in the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after purchasing an additional 15,058 shares in the last quarter. Congress Asset Management Co. grew its position in Okta by 23.0% in the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after purchasing an additional 18,325 shares in the last quarter. Finally, Swedbank AB increased its stake in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after buying an additional 1,007,915 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $94.72 on Friday. The company has a 50 day moving average price of $79.01 and a two-hundred day moving average price of $82.69. The company has a market capitalization of $16.76 billion, a PE ratio of 72.31, a PEG ratio of 3.49 and a beta of 0.59. Okta has a 52 week low of $62.66 and a 52 week high of $107.84.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same period last year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, sell-side analysts forecast that Okta will post 1.61 earnings per share for the current year.

Okta Company Profile

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.