Okta (NASDAQ:OKTA) Price Target Raised to $115.00 at Canaccord Genuity Group

Okta (NASDAQ:OKTA) had its target price boosted by Canaccord Genuity Group from $95.00 to $115.00 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also recently weighed in on OKTA. Mizuho increased their price objective on Okta from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus decreased their price target on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. DA Davidson raised their price target on Okta from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Scotiabank raised their price target on Okta from $80.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Piper Sandler raised their price target on Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.86.

Okta Price Performance

OKTA stock opened at $123.27 on Friday. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 3.69 and a beta of 0.59. The business’s fifty day moving average price is $79.90 and its two-hundred day moving average price is $82.97. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $124.79.

Okta (NASDAQ:OKTA) last posted 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. The firm had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.16% and a net margin of 8.24%.The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. 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 EPS for the current year.

Insider Transactions at Okta

In other Okta news, Director David Schellhase bought 3,712 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were purchased at an average price of $72.04 per share, for a total transaction of $267,412.48. Following the completion of the transaction, the director directly owned 3,712 shares in the company, valued at approximately $267,412.48. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 completion of the transaction, the executive owned 4,364 shares in the company, valued at approximately $339,475.56. This represents a 84.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 70,884 shares of company stock valued at $5,625,648. Company insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC grew its position in Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the last quarter. SHP Wealth Management bought a new position in Okta in the fourth quarter valued at about $27,000. Torren Management LLC bought a new position in Okta in the fourth quarter valued at about $32,000. Aster Capital Management DIFC Ltd bought a new position in Okta in the third quarter valued at about $34,000. Finally, Westside Investment Management Inc. grew its position in Okta by 86.9% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after acquiring an additional 193 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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.