Okta (NASDAQ:OKTA) Given New $135.00 Price Target at Berenberg Bank

Okta (NASDAQ:OKTA) had its target price lifted by Berenberg Bank from $120.00 to $135.00 in a research report sent to investors on Friday morning,MarketScreener reports. Berenberg Bank currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada lifted their price objective on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday. Barclays lifted their price objective on Okta from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Arete Research set a $127.00 price objective on Okta and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer lifted their price objective on Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Truist Financial lifted their price objective on Okta from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Stock Performance

Shares of OKTA opened at $123.27 on Friday. The business has a 50-day moving average of $79.90 and a 200 day moving average of $82.97. Okta has a fifty-two week low of $62.66 and a fifty-two 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.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same quarter last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter 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, research analysts predict that Okta will post 1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 6,377 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the transaction, the insider owned 54,825 shares in the company, valued at $4,372,293.75. This trade represents a 10.42% decrease in their position. The sale was disclosed in a document filed 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 Okta stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total value of $1,812,818.16. Following the sale, the executive owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. This trade represents a 84.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 70,884 shares of company stock worth $5,625,648 over the last quarter. Insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

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

Key Stories 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

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.