Okta (NASDAQ:OKTA) Given New $100.00 Price Target at Wells Fargo & Company

Okta (NASDAQ:OKTA) had its price objective hoisted by Wells Fargo & Company from $85.00 to $100.00 in a report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

OKTA has been the topic of a number of other reports. Raymond James Financial raised shares of Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Thursday, April 16th. HSBC raised shares of Okta to a “buy” rating in a research report on Thursday, April 16th. Arete Research set a $127.00 price objective on shares of Okta and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Okta from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wolfe Research began coverage on shares of Okta in a research report on Thursday, April 16th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average price target of $111.86.

Okta Price Performance

OKTA stock opened at $123.27 on Friday. Okta has a 52-week low of $62.66 and a 52-week high of $124.79. The company’s 50 day simple moving average is $79.90 and its 200-day simple moving average is $82.97. The firm has a market capitalization of $21.80 billion, a P/E ratio of 89.33, a P/E/G ratio of 3.69 and a beta of 0.59.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.16%. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s 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. Sell-side analysts predict that Okta will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In related news, insider Eric Robert Kelleher sold 2,409 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total value of $192,720.00. Following the transaction, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. This trade represents a 13.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 1,054 shares of Okta stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00. Following the completion of the transaction, the insider owned 48,448 shares in the company, valued at $3,875,840. This trade represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 70,884 shares of company stock worth $5,625,648 in the last quarter. 4.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Okta by 5.7% during the 3rd 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. First Trust Advisors LP raised its stake in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the last quarter. Geode Capital Management LLC raised its stake in Okta by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Okta by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after buying an additional 69,653 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat consensus on both revenue and earnings, reporting $765 million in revenue and $0.91 EPS, while also raising full-year and next-quarter guidance above expectations. Article Title
• Positive Sentiment: Management highlighted accelerating demand for identity tools tied to AI agents, suggesting a new growth tailwind for Okta’s security platform. Article Title
• Positive Sentiment: A broad list of brokerages raised price targets after the report, including JPMorgan, Barclays, Morgan Stanley, BTIG, Needham, BMO, Truist, RBC, and others, reinforcing the bullish post-earnings setup. Article Title
• Positive Sentiment: Multiple reports said investors are rethinking the “SaaSpocalypse” narrative, with software stocks rebounding sharply as Okta’s results showed resilient demand and improving execution. Article Title

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.