JPMorgan Chase & Co. Lowers Okta (NASDAQ:OKTA) Price Target to $115.00

Okta (NASDAQ:OKTA) had its target price cut by research analysts at JPMorgan Chase & Co. from $140.00 to $115.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 40.47% from the stock’s previous close.

OKTA has been the subject of a number of other research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Okta in a report on Friday, September 26th. BTIG Research reissued a “buy” rating and set a $142.00 target price on shares of Okta in a research note on Friday, September 26th. BMO Capital Markets dropped their target price on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a report on Wednesday, August 27th. Mizuho decreased their price target on shares of Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Okta in a research report on Friday, November 14th. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.94.

Okta Trading Up 1.5%

Shares of Okta stock opened at $81.87 on Monday. The company has a market cap of $14.33 billion, a PE ratio of 96.32, a price-to-earnings-growth ratio of 3.96 and a beta of 0.77. The company has a 50 day moving average of $87.06 and a 200-day moving average of $94.08. Okta has a 1-year low of $76.35 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. During the same period last year, the firm posted $0.67 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Research analysts forecast that Okta will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,975 shares of company stock worth $6,011,126 over the last 90 days. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after purchasing an additional 135 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Okta by 15.6% in the third quarter. Swiss Life Asset Management Ltd now owns 18,131 shares of the company’s stock valued at $1,663,000 after buying an additional 2,443 shares during the period. Cantor Fitzgerald L. P. boosted its position in Okta by 197.5% during the third quarter. Cantor Fitzgerald L. P. now owns 17,417 shares of the company’s stock valued at $1,597,000 after acquiring an additional 11,562 shares during the last quarter. Cambria Investment Management L.P. boosted its position in Okta by 1.5% during the third quarter. Cambria Investment Management L.P. now owns 15,627 shares of the company’s stock valued at $1,433,000 after acquiring an additional 228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Okta by 378.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 727 shares of the company’s stock worth $67,000 after acquiring an additional 575 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.