Scotiabank Predicts Okta’s FY2027 Earnings (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) – Stock analysts at Scotiabank boosted their FY2027 earnings per share (EPS) estimates for shares of Okta in a report released on Friday, May 29th. Scotiabank analyst P. Colville now expects that the company will post earnings per share of $1.65 for the year, up from their prior forecast of $1.60. Scotiabank currently has a “Sector Perform” rating and a $105.00 target price on the stock. The consensus estimate for Okta’s current full-year earnings is $1.61 per share.

OKTA has been the subject of a number of other research reports. Weiss Ratings cut Okta from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 20th. Stifel Nicolaus lowered their price target on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Raymond James Financial raised Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, April 16th. Berenberg Bank lifted their price target on Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price target on Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.86.

Okta Price Performance

Okta stock opened at $123.27 on Monday. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 4.78 and a beta of 0.80. Okta has a 1-year low of $62.66 and a 1-year high of $124.79. The business has a fifty day moving average price of $79.90 and a 200-day moving average price of $82.95.

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 analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm 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.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently modified their holdings of OKTA. Elevation Wealth Partners LLC raised its stake in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. SHP Wealth Management purchased a new position in shares of Okta during the 4th quarter valued at about $27,000. Torren Management LLC purchased a new position in shares of Okta during the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Okta during the 3rd quarter valued at about $34,000. Finally, Westside Investment Management Inc. raised its stake in shares of Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 11,263 shares of Okta stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the completion of the transaction, the chief executive officer owned 97,083 shares in the company, valued at approximately $7,864,693.83. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction, the executive owned 4,364 shares of the company’s stock, valued at $339,475.56. The trade was a 84.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 70,884 shares of company stock worth $5,625,648. Insiders own 4.61% 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.