Okta (NASDAQ:OKTA) Price Target Raised to $170.00

Okta (NASDAQ:OKTA) had its price target hoisted by Cantor Fitzgerald from $125.00 to $170.00 in a research report report published on Thursday morning, MarketBeat reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on OKTA. The Goldman Sachs Group started coverage on Okta in a research note on Monday, July 6th. They issued a “buy” rating for the company. Capital One Financial set a $171.00 price target on Okta and gave the company an “overweight” rating in a research note on Thursday, July 16th. Oppenheimer upped their price objective on shares of Okta from $125.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. HC Wainwright started coverage on shares of Okta in a research note on Monday, July 6th. They set a “buy” rating on the stock. Finally, TD Cowen raised their target price on shares of Okta from $105.00 to $160.00 and gave the company a “hold” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.54.

Okta Stock Performance

Shares of Okta stock opened at $135.14 on Thursday. The firm has a 50-day moving average of $138.30 and a 200-day moving average of $103.34. Okta has a 52-week low of $62.66 and a 52-week high of $157.00. The stock has a market cap of $23.49 billion, a PE ratio of 97.93, a PEG ratio of 4.86 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts predict that Okta will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Okta

In related news, insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 165,347 shares of company stock worth $21,827,342 in the last 90 days. 4.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC bought a new position in shares of Okta in the 1st quarter worth about $225,000. NewEdge Advisors LLC boosted its position in shares of Okta by 853.4% during the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after purchasing an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Okta during the second quarter worth approximately $244,000. Invesco Ltd. grew its stake in Okta by 34.1% during the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock worth $43,071,000 after purchasing an additional 109,614 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Okta by 122.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock worth $162,000 after purchasing an additional 893 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analysts raised their price targets. JPMorgan lifted its target to $165 from $120 and assigned an “overweight” rating, while Cantor Fitzgerald raised its target to $170 from $125 and also rated the shares “overweight.” The revisions imply roughly 22%–26% potential upside from the referenced $135.14 level, supporting the bullish case for Okta. Okta analyst forecasts
• Positive Sentiment: Cybersecurity demand and AI are providing a favorable industry backdrop. Analysts and industry executives say AI-powered attacks are increasing the need for identity security. Morgan Stanley also identified Okta as a potential beneficiary as agentic identity security shifts toward broader platforms. Morgan Stanley identity security outlook
• Positive Sentiment: Okta appointed Scott Morgan as chief legal officer. His prior experience leading legal operations at Splunk, including its expansion and integration with Cisco, could help Okta manage governance, risk, acquisitions and the development of AI-native identity-security products. Okta appoints Scott Morgan
• Neutral Sentiment: Investors are focused on the Q2 report due Aug. 26. Preview coverage is examining subscription trends, margins, billings and other operating metrics beyond revenue and earnings estimates. Okta’s most recent report exceeded consensus expectations, with $765 million in revenue and $0.91 in adjusted earnings per share, but investors will be looking for evidence that growth can reaccelerate.
• Negative Sentiment: Retail investors have reduced their positions ahead of earnings. This signals diminished near-term conviction and could add volatility if Okta’s results or guidance fail to meet elevated expectations. Okta retail investor sentiment
• Negative Sentiment: Valuation and broader technology-market weakness remain risks. Okta trades at a high earnings multiple, while identity-security and software shares recently moved lower amid wider market pressure. The stock also remains below its 50-day moving average, underscoring near-term technical caution.

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.