Okta (NASDAQ:OKTA) Price Target Raised to $105.00 at Citigroup

Okta (NASDAQ:OKTA) had its price objective raised by Citigroup from $87.00 to $105.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on OKTA. Barclays upped their target price on shares of Okta from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Susquehanna upped their target price on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley increased their price target on shares of Okta from $101.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group set a $85.00 price target on shares of Okta in a report on Thursday, April 16th. Finally, Arete Research set a $127.00 price target on shares of Okta and gave the stock a “buy” rating in a report on Tuesday. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $111.86.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $123.27 on Friday. The company has a 50-day simple moving average of $79.90 and a 200-day simple moving average of $82.97. Okta has a one year low of $62.66 and a one year high of $124.79. 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.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.16%. The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, research analysts forecast that Okta will post 1.61 EPS for the current fiscal year.

Insider Activity

In other Okta news, CRO Jonathan James Addison sold 23,304 shares of the 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 directly owned 4,364 shares of the company’s stock, valued at approximately $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Schellhase bought 3,712 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was bought at an average cost of $72.04 per share, with a total value of $267,412.48. Following the completion of the acquisition, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. This represents a ∞ increase in their position. 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 valued at $5,625,648 over the last ninety days. 4.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares in the last quarter. First Trust Advisors LP increased its holdings in Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Okta by 71.9% in 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 buying an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC increased its holdings in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after buying an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Okta by 2.9% in 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 buying an additional 69,653 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta News Roundup

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.