Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Piper Sandler

Okta (NASDAQ:OKTA) had its price target lifted by Piper Sandler from $82.00 to $105.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also commented on OKTA. UBS Group set a $85.00 price target on Okta in a research note on Thursday, April 16th. Royal Bank Of Canada increased their price objective on shares of Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday. KeyCorp raised their price target on shares of Okta from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings lowered shares of Okta from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Finally, Oppenheimer raised their price objective on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.86.

Okta Stock Performance

NASDAQ:OKTA opened at $123.27 on Friday. Okta has a one year low of $62.66 and a one year high of $124.79. The stock has a market cap of $21.80 billion, a PE ratio of 89.33, a P/E/G ratio of 3.69 and a beta of 0.59. The stock has a 50 day moving average price of $79.90 and a 200 day moving average price of $82.97.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.16% and a net margin of 8.24%.The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, analysts predict that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 11,263 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer owned 97,083 shares in the company, valued at approximately $7,864,693.83. The trade was a 10.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 6,377 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total transaction of $508,565.75. Following the completion of the sale, the insider directly owned 54,825 shares in the company, valued at approximately $4,372,293.75. The trade was a 10.42% 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. In the last 90 days, insiders have sold 70,884 shares of company stock worth $5,625,648. Insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Elevation Wealth Partners LLC boosted its position in Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares in the last quarter. SHP Wealth Management acquired a new position in Okta in the fourth quarter valued at about $27,000. Torren Management LLC acquired a new position in Okta in the fourth quarter valued at about $32,000. Aster Capital Management DIFC Ltd acquired a new position in Okta in the third quarter valued at about $34,000. Finally, Westside Investment Management Inc. boosted its position in Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta News Roundup

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

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.