Canaccord Genuity Group Forecasts Strong Price Appreciation for Okta (NASDAQ:OKTA) Stock

Posted by Grant Hamersma on May 29th, 2026

Okta (NASDAQ:OKTA – Get Free Report) had its price target increased by stock analysts at Canaccord Genuity Group from $95.00 to $115.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential downside of 6.35% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wolfe Research assumed coverage on shares of Okta in a report on Thursday, April 16th. They issued an “outperform” rating for the company. Arete Research set a $127.00 price target on shares of Okta and gave the company a “buy” rating in a report on Tuesday. DA Davidson set a $130.00 price target on shares of Okta in a report on Friday. Raymond James Financial upgraded shares of Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, April 16th. Finally, Weiss Ratings lowered shares of Okta from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Get Our Latest Stock Report on Okta

Okta Trading Up 29.6%

Shares of OKTA traded up $28.08 during mid-day trading on Friday, reaching $122.80. The company’s stock had a trading volume of 10,684,226 shares, compared to its average volume of 3,503,442. The stock has a market cap of $21.72 billion, a PE ratio of 93.68, a P/E/G ratio of 3.49 and a beta of 0.59. Okta has a 52 week low of $62.66 and a 52 week high of $123.54. The company’s fifty day moving average price is $79.01 and its two-hundred day moving average price is $82.69.

Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Research analysts anticipate that Okta will post 1.61 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 16,818 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00. Following the sale, the insider owned 15,470 shares in the company, valued at approximately $1,237,600. The trade was a 52.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 6,377 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total transaction of $508,565.75. Following the transaction, the insider directly owned 54,825 shares of the company’s stock, valued at $4,372,293.75. This represents a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 70,884 shares of company stock worth $5,625,648 over the last 90 days. Corporate insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC grew its position in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Okta during the fourth quarter worth about $27,000. Torren Management LLC purchased a new stake in shares of Okta during the fourth quarter worth approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Okta in the 3rd quarter worth about $34,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Okta by 86.9% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 193 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta News Summary

Here are the key news stories impacting Okta this week:

Positive Sentiment: Okta beat Wall Street’s Q1 estimates, reporting $0.91 in adjusted EPS and $765 million in revenue, both above consensus. Okta Shares Climb After Strong Q1 Results, Forward Guidance
Positive Sentiment: The company raised guidance for fiscal 2027, with next-quarter EPS outlook of $0.95-$0.97 and full-year EPS guidance of $3.79-$3.87, signaling confidence in continued growth. View Press Release
Positive Sentiment: Multiple analysts lifted price targets after the report, including BTIG, Needham, JPMorgan, Morgan Stanley, RBC, Oppenheimer, and Berenberg, reinforcing the post-earnings rally. Okta Stock Surges After Surprising Q1 Results, FY27 Boost
Positive Sentiment: Management highlighted stronger enterprise momentum and AI-related demand, which investors view as an emerging growth tailwind for identity tools. Okta tops first-quarter results on agentic AI demand

Okta Company Profile

(Get Free Report)

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.