Okta (NASDAQ:OKTA) Price Target Lowered to $105.00 at Jefferies Financial Group

Okta (NASDAQ:OKTA) had its price target cut by research analysts at Jefferies Financial Group from $125.00 to $105.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 41.96% from the company’s previous close.

A number of other research firms have also weighed in on OKTA. Scotiabank cut their price objective on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 3rd. Morgan Stanley cut their price target on Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Okta from $110.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, December 3rd. Cantor Fitzgerald dropped their target price on Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Okta in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.26.

Okta Price Performance

Okta stock traded up $1.47 during trading hours on Monday, hitting $73.97. 2,460,598 shares of the stock traded hands, compared to its average volume of 2,957,811. The firm’s 50 day moving average price is $86.40 and its 200-day moving average price is $87.86. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 2.81 and a beta of 0.77. Okta has a 1 year low of $68.77 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s 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 fiscal year.

Okta announced that its board has initiated a stock buyback program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 8,370 shares of Okta stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total transaction of $754,890.30. Following the sale, the insider owned 11,266 shares of the company’s stock, valued at $1,016,080.54. The trade was a 42.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the sale, the insider directly owned 38,164 shares of the company’s stock, valued at $3,463,001.36. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently bought and sold shares of OKTA. Kera Capital Partners Inc. increased its stake in Okta by 57.6% during the fourth quarter. Kera Capital Partners Inc. now owns 5,401 shares of the company’s stock worth $456,000 after acquiring an additional 1,975 shares during the last quarter. Invesco Ltd. increased its position in shares of Okta by 19.1% during the 4th quarter. Invesco Ltd. now owns 548,741 shares of the company’s stock worth $47,450,000 after purchasing an additional 88,112 shares during the last quarter. Rare Wolf Capital LLC acquired a new stake in shares of Okta during the 4th quarter worth about $390,000. Corient Private Wealth LLC raised its holdings in Okta by 515.8% in the 4th quarter. Corient Private Wealth LLC now owns 68,854 shares of the company’s stock valued at $5,954,000 after buying an additional 57,672 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its position in Okta by 17.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 97,190 shares of the company’s stock valued at $8,404,000 after buying an additional 14,664 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

About Okta

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.