Okta (NASDAQ:OKTA) Given New $125.00 Price Target at Oppenheimer

Okta (NASDAQ:OKTA) had its target price increased by Oppenheimer from $110.00 to $125.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently weighed in on OKTA. Stephens reduced their price target on Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Piper Sandler reduced their price target on Okta from $100.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, March 5th. BMO Capital Markets boosted their price target on Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings cut Okta from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Price Performance

Shares of NASDAQ OKTA opened at $123.27 on Friday. The business’s 50-day moving average price is $79.90 and its two-hundred day moving average price is $82.97. Okta has a one year low of $62.66 and a one year high of $124.79. The company has a market capitalization 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.

Okta (NASDAQ:OKTA) last issued its 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 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 quarter in the previous year, the company posted $0.86 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. 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 analysts anticipate that Okta will post 1.61 EPS for the current year.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 23,304 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was 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 owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. The trade was a 84.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,818 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00. Following the completion of the transaction, the insider directly owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This trade represents a 52.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,884 shares of company stock worth $5,625,648 in the last ninety days. 4.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares in the last quarter. First Trust Advisors LP raised its holdings in Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Geode Capital Management LLC grew its stake in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Okta by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after purchasing an additional 69,653 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.