Okta (NASDAQ:OKTA) Given New $115.00 Price Target at Morgan Stanley

Okta (NASDAQ:OKTA) had its price objective boosted by Morgan Stanley from $101.00 to $115.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on OKTA. Truist Financial boosted their price objective on shares of Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank boosted their price objective on shares of Okta from $80.00 to $105.00 and gave the company a “sector perform” rating in a research report on Friday. Sanford C. Bernstein reissued an “outperform” rating and set a $134.00 price target on shares of Okta in a research report on Friday, March 6th. Barclays boosted their price target on shares of Okta from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald boosted their price target on shares of Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday. One 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 stock. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.86.

Okta Trading Up 30.1%

OKTA opened at $123.27 on Friday. The stock 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 has a 12 month low of $62.66 and a 12 month high of $124.79. The firm’s fifty day simple moving average is $79.90 and its 200 day simple moving average is $82.97.

Okta (NASDAQ:OKTA) last posted 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 for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.16%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. 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, equities research analysts predict that Okta will post 1.61 EPS for the current fiscal year.

Insider Activity at Okta

In other news, Director Shellye L. Archambeau sold 2,500 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the sale, the director directly owned 9,192 shares in the company, valued at $781,320. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 1,054 shares of the 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 sale, the insider owned 48,448 shares of the company’s stock, valued at approximately $3,875,840. This trade represents a 2.13% 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 a total of 70,884 shares of company stock valued at $5,625,648 over the last 90 days. 4.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Large investors have recently modified their holdings of the company. Elevation Wealth Partners LLC increased its position in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after buying an additional 264 shares during the period. SHP Wealth Management acquired a new stake in shares of Okta during the fourth quarter worth $27,000. Torren Management LLC acquired a new stake in shares of Okta during the fourth quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Okta during the third quarter worth $34,000. Finally, Westside Investment Management Inc. grew its holdings in Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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

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.