Okta (NASDAQ:OKTA) Given New $120.00 Price Target at Barclays

Okta (NASDAQ:OKTA) had its price objective increased by Barclays from $93.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also commented on OKTA. HSBC upgraded shares of Okta to a “buy” rating in a research note on Thursday, April 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Okta from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Seaport Research Partners downgraded shares of Okta to a “neutral” rating in a report on Thursday, April 16th. 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 report on Friday. Finally, KeyCorp upped their price target on shares of Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $111.86.

Okta Stock Performance

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

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 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 prior year, the business earned $0.86 EPS. Okta’s quarterly 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. As a group, equities analysts forecast that Okta will post 1.61 earnings per share for the current 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 transaction, the insider directly owned 48,448 shares in the company, valued at approximately $3,875,840. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Trading of Okta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its position in Okta by 825.0% in the 4th 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 bought a new stake in Okta in the 4th quarter valued at about $27,000. Torren Management LLC bought a new stake in Okta in the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd bought a new stake in Okta in the 3rd quarter valued at about $34,000. Finally, Westside Investment Management Inc. increased its position in Okta by 86.9% in the 3rd 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 owned by institutional investors.

Okta News Summary

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.