Okta (NASDAQ:OKTA) Given New $119.00 Price Target at BTIG Research

Okta (NASDAQ:OKTA) had its target price boosted by BTIG Research from $105.00 to $119.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on OKTA. Morgan Stanley cut their price target on Okta from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Barclays increased their price target on Okta from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, April 16th. Wells Fargo & Company increased their price target on Okta from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Oppenheimer cut their price target on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Price Performance

NASDAQ OKTA opened at $123.27 on Friday. The stock’s fifty day moving average price is $79.90 and its 200 day moving average price is $82.97. Okta has a 1 year low of $62.66 and a 1 year high of $124.79. The company has a market cap 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 (NASDAQ:OKTA) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.16% and a net margin of 8.24%.The firm had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the prior year, the firm earned $0.86 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Research analysts expect that Okta will post 1.61 earnings per share for the current year.

Insider Transactions at Okta

In related news, Director David Schellhase purchased 3,712 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, with a total value of $267,412.48. Following the purchase, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive directly owned 4,364 shares in the company, valued at $339,475.56. This represents a 84.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 70,884 shares of company stock worth $5,625,648 in the last three months. 4.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC purchased a new position in Okta in the 1st quarter worth approximately $225,000. NewEdge Advisors LLC lifted its stake in Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after purchasing an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Okta in the 2nd quarter worth approximately $244,000. Invesco Ltd. lifted its stake in Okta by 34.1% in the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock worth $43,071,000 after purchasing an additional 109,614 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Okta by 122.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock worth $162,000 after purchasing an additional 893 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Key Headlines 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

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.