Okta (NASDAQ:OKTA) Given New $110.00 Price Target at Mizuho

Okta (NASDAQ:OKTA) had its target price increased by Mizuho from $100.00 to $110.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the company. Wells Fargo & Company raised their price objective on Okta from $76.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Needham & Company LLC raised their price objective on Okta from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, April 16th. Seaport Research Partners lowered Okta to a “neutral” rating in a research report on Thursday, April 16th. Finally, UBS Group set a $85.00 price objective on Okta in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Trading Up 30.1%

Shares of OKTA opened at $123.27 on Friday. The firm’s 50-day moving average price is $79.90 and its 200-day moving average price is $82.97. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 3.69 and a beta of 0.59. Okta has a 1-year low of $62.66 and a 1-year high of $124.79.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a return on equity of 4.16% and a net margin of 8.24%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $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. On average, research analysts forecast that Okta will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the sale, the executive directly owned 4,364 shares in the company, valued at approximately $339,475.56. This trade represents a 84.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares of the company’s stock, valued at $781,320. The trade was a 21.38% decrease in their ownership of the stock. 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 three months. 4.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

Large investors have recently bought and sold shares of the business. Spire Wealth Management grew its position in shares of Okta by 30.8% in the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Okta by 10.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock valued at $105,000 after purchasing an additional 129 shares during the last quarter. Allworth Financial LP grew its position in shares of Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after purchasing an additional 135 shares during the last quarter. Choreo LLC grew its position in shares of Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after purchasing an additional 140 shares during the last quarter. Finally, SteelPeak Wealth LLC grew its position in shares of Okta by 2.8% in the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after purchasing an additional 140 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

More Okta News

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.