Okta (NASDAQ:OKTA) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Okta (NASDAQ:OKTA) released its earnings results on Tuesday. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06, Briefing.com reports. The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.82% and a net margin of 6.87%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Okta updated its FY 2026 guidance to 3.430-3.440 EPS and its Q4 2026 guidance to 0.840-0.850 EPS.

Okta Trading Down 1.2%

NASDAQ:OKTA traded down $1.03 during mid-day trading on Thursday, hitting $85.31. 2,016,268 shares of the company’s stock traded hands, compared to its average volume of 3,393,940. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 78.56, a price-to-earnings-growth ratio of 4.02 and a beta of 0.77. The firm has a 50 day moving average of $86.99 and a two-hundred day moving average of $94.02. Okta has a 12 month low of $75.05 and a 12 month high of $127.57.

Insiders Place Their Bets

In related news, insider Eric Robert Kelleher sold 2,410 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider directly owned 9,174 shares in the company, valued at $841,531.02. This represents a 20.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of the business’s 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 owned 133,336 shares in the company, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,975 shares of company stock valued at $6,011,126 in the last 90 days. 5.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in shares of Okta by 9.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after purchasing an additional 189,036 shares in the last quarter. Northern Trust Corp grew its stake in Okta by 3.8% during the third quarter. Northern Trust Corp now owns 1,631,097 shares of the company’s stock worth $149,572,000 after buying an additional 60,398 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Okta by 276.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after buying an additional 1,031,083 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Okta by 18.2% during the third quarter. Marshall Wace LLP now owns 1,320,715 shares of the company’s stock worth $121,110,000 after buying an additional 203,105 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Okta by 13.9% in the second quarter. AQR Capital Management LLC now owns 1,175,676 shares of the company’s stock valued at $117,121,000 after acquiring an additional 143,634 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. Robert W. Baird cut their target price on Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research note on Wednesday, October 8th. Susquehanna decreased their target price on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and issued a $120.00 price target on shares of Okta in a report on Wednesday. Finally, BTIG Research decreased their price target on shares of Okta from $142.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $112.08.

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.