Needham & Company LLC Has Lowered Expectations for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price target cut by equities researchers at Needham & Company LLC from $125.00 to $110.00 in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 34.36% from the stock’s current price.

OKTA has been the topic of a number of other reports. Cantor Fitzgerald dropped their price objective on shares of Okta from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Scotiabank dropped their target price on Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 27th. JPMorgan Chase & Co. cut their price target on Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets reduced their price target on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Twenty-three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.78.

Okta Trading Up 1.5%

Shares of OKTA stock opened at $81.87 on Wednesday. Okta has a twelve month low of $76.35 and a twelve month high of $127.57. The stock has a fifty day simple moving average of $87.06 and a two-hundred day simple moving average of $94.08. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 96.32, a P/E/G ratio of 3.96 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same period in the previous year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. 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 predict that Okta will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive directly owned 7,067 shares in the company, valued at approximately $654,474.87. The trade was a 46.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $950,000.00. Following the sale, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. This represents a 6.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in Okta in the second quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in Okta during the 3rd quarter worth approximately $26,000. Harbour Investments Inc. lifted its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the period. Promus Capital LLC acquired a new stake in Okta during the 2nd quarter valued at approximately $27,000. Finally, Kiker Wealth Management LLC boosted its holdings in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

About Okta

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.