Okta (NASDAQ:OKTA) Given “Buy” Rating at BTIG Research

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reissued by BTIG Research in a report issued on Thursday, Benzinga reports. They presently have a $219.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 4.10% from the company’s current price.

Several other brokerages have also weighed in on OKTA. HSBC lowered Okta from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. Robert W. Baird increased their price objective on Okta from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho set a $200.00 target price on shares of Okta in a research report on Thursday. Wells Fargo & Company lifted their target price on shares of Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Citigroup reiterated a “market outperform” rating on shares of Okta in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $189.34.

Okta Price Performance

Shares of OKTA stock traded up $5.01 during trading hours on Thursday, reaching $210.37. 2,331,223 shares of the stock were exchanged, compared to its average volume of 3,610,188. The business’s fifty day moving average is $156.52 and its two-hundred day moving average is $118.37. The firm has a market capitalization of $36.78 billion, a P/E ratio of 126.67, a P/E/G ratio of 6.12 and a beta of 0.79. Okta has a 12-month low of $62.66 and a 12-month high of $212.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts predict that Okta will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer directly owned 7,693 shares in the company, valued at $1,249,650.92. This trade represents a 84.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 68,936 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the completion of the transaction, the chief executive officer directly owned 38,484 shares in the company, valued at $5,642,524.08. This represents a 64.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,880 shares of company stock valued at $24,588,427 over the last three months. 4.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Okta during the 4th quarter worth approximately $175,193,000. Allspring Global Investments Holdings LLC grew its holdings in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA grew its holdings in Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after acquiring an additional 550,328 shares during the period. Jupiter Asset Management Ltd. raised its position in Okta by 2,982.2% in the fourth quarter. Jupiter Asset Management Ltd. now owns 514,449 shares of the company’s stock worth $44,484,000 after acquiring an additional 497,758 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Okta by 114.3% in the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after acquiring an additional 397,951 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analysts raised targets and maintained bullish ratings. BTIG reaffirmed a Buy rating with a $219 target, while RBC raised its target to $230 and DA Davidson lifted its target to $235, both with positive ratings. Wells Fargo also increased its target to $230 and maintained Overweight. Guggenheim raised its target to $227 and reiterated Buy. The revisions reflect improving fundamentals, AI-agent momentum and confidence in Okta’s longer-term growth outlook.
• Positive Sentiment: AI identity and security are attracting investor attention. Okta introduced tools for managing AI-agent lifecycles, including an agent runtime gateway and an AI “kill switch.” Its Blueprint Alliance with AWS and CrowdStrike, along with partner support for Okta’s Cross App Access protocol, strengthens the company’s positioning in identity, access control and governance for enterprise AI. Okta adds AI agent runtime gateway and forms Blueprint Alliance
• Positive Sentiment: Wall Street sees a potential 2027 growth inflection. Jefferies expects AI-agent adoption to support more pronounced growth by 2027, while William Blair initiated a Buy rating citing Okta’s strong positioning in AI identity and an expanding addressable market. These views helped reinforce the recent rally.
• Neutral Sentiment: Investors still want proof of durable growth. Mizuho remained Neutral after Oktane, saying it needs evidence that growth reacceleration can persist. Jefferies also identified customer confusion as a key adoption hurdle. The conference generated favorable publicity, but investors ultimately need measurable customer demand, revenue acceleration and monetization.
• Negative Sentiment: Valuation and momentum risks could limit further gains. Okta has already delivered a substantial multi-year rerating, and commentary has questioned whether projected cash generation supports the current valuation. A technical screen also flagged an overbought RSI above 70. Separately, insider Eric Kelleher sold 6,395 shares under a pre-arranged Rule 10b5-1 plan; the scheduled transaction reduces its significance but may still affect sentiment. Benzinga technical warning

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.