Okta (NASDAQ:OKTA) Price Target Raised to $122.00 at Royal Bank Of Canada

Okta (NASDAQ:OKTA) had its price objective increased by Royal Bank Of Canada from $108.00 to $122.00 in a research report sent to investors on Friday morning, Marketbeat.com reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Needham & Company LLC raised their price objective on shares of Okta from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Arete Research set a $127.00 price objective on shares of Okta and gave the stock a “buy” rating in a report on Tuesday. Stephens decreased their price target on shares of Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Mizuho lifted their price target on shares of Okta from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday. Finally, Barclays lifted their price target on shares of Okta from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company 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. Okta has a 12-month low of $62.66 and a 12-month high of $124.79. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 89.33, a price-to-earnings-growth ratio of 3.69 and a beta of 0.59. The firm’s fifty day moving average price is $79.90 and its 200 day moving average price is $82.97.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) 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 the consensus estimate of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.16%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. Analysts forecast that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 6,377 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $79.75, for a total transaction of $508,565.75. Following the completion of the transaction, the insider directly owned 54,825 shares of the company’s stock, valued at $4,372,293.75. The trade was a 10.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase bought 3,712 shares of Okta stock in a transaction on Thursday, April 16th. The shares were purchased at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the purchase, the director directly owned 3,712 shares in the company, valued at $267,412.48. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase 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 worth $5,625,648 over the last three months. Insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Okta by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. First Trust Advisors LP lifted its stake in Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after purchasing an additional 1,326,051 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Okta by 71.9% during the first 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 last quarter. Geode Capital Management LLC lifted its stake in Okta by 1.8% during the fourth 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Okta by 2.9% during the fourth 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 acquiring an additional 69,653 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Key Headlines 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.