Okta (NASDAQ:OKTA) Price Target Raised to $110.00 at Susquehanna

Okta (NASDAQ:OKTA) had its target price hoisted by Susquehanna from $80.00 to $110.00 in a report issued on Friday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Mizuho raised their price target on Okta from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday. Stephens dropped their price target on Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. HSBC raised Okta to a “buy” rating in a report on Thursday, April 16th. UBS Group set a $85.00 price target on Okta in a report on Thursday, April 16th. Finally, Morgan Stanley dropped their price target on Okta from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Price Performance

OKTA stock opened at $123.27 on Friday. The business has a fifty day moving average price of $79.90 and a 200 day moving average price of $82.97. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $124.79. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of 89.33, a P/E/G ratio of 3.69 and a beta of 0.59.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share 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 during the quarter, compared to analysts’ expectations of $751.84 million. During the same period last year, the firm posted $0.86 EPS. The business’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. On average, equities analysts expect that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 1,054 shares of Okta 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 completion of the sale, the insider directly owned 48,448 shares of the company’s stock, valued at $3,875,840. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider directly owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This trade represents a 13.47% 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 70,884 shares of company stock valued at $5,625,648 over the last quarter. 4.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA grew its stake in shares of Okta by 7.0% during the first quarter. Glenmede Trust Co. NA now owns 540,947 shares of the company’s stock worth $42,578,000 after purchasing an additional 35,324 shares during the period. Bank of America Corp DE lifted its holdings in Okta by 0.4% during the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after acquiring an additional 6,533 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Okta by 133.4% during the first quarter. Arkadios Wealth Advisors now owns 12,295 shares of the company’s stock worth $968,000 after acquiring an additional 7,028 shares in the last quarter. South Dakota Investment Council lifted its holdings in Okta by 11.1% during the first quarter. South Dakota Investment Council now owns 47,783 shares of the company’s stock worth $3,761,000 after acquiring an additional 4,777 shares in the last quarter. Finally, IFS Group LLC bought a new position in Okta during the first quarter worth about $375,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.