BTIG Research Reaffirms “Buy” Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Thursday, Benzinga reports. They currently have a $219.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 12.20% from the company’s previous close.

Several other research firms have also recently weighed in on OKTA. DA Davidson lifted their price objective on Okta from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna lifted their price objective on Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Stifel Nicolaus lifted their price objective on Okta from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler lifted their price objective on Okta from $105.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Okta in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.41.

Okta Trading Down 5.5%

NASDAQ OKTA traded down $11.45 during trading on Thursday, hitting $195.19. The company had a trading volume of 3,989,743 shares, compared to its average volume of 3,628,448. Okta has a one year low of $62.66 and a one year high of $212.50. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 117.59, a price-to-earnings-growth ratio of 6.12 and a beta of 0.79. The company’s fifty day moving average is $157.70 and its 200-day moving average is $119.26.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. Okta’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $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 analysts anticipate that Okta will post 1.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric Kelleher sold 6,395 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. This trade represents a 25.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. The trade was a 84.28% 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 206,702 shares of company stock worth $34,034,508 in the last three months. 4.61% of the stock is owned by corporate insiders.

Institutional Trading of Okta

A number of institutional investors and hedge funds have recently bought and sold shares of OKTA. QRG Capital Management Inc. bought a new stake in Okta during the 2nd quarter valued at about $1,025,000. Andra AP fonden bought a new stake in Okta during the 2nd quarter valued at about $961,000. Junto Capital Management LP bought a new stake in Okta during the 2nd quarter valued at about $45,486,000. National Pension Service increased its stake in Okta by 23.2% during the 2nd quarter. National Pension Service now owns 43,893 shares of the company’s stock valued at $5,989,000 after purchasing an additional 8,257 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Okta by 521.5% during the 2nd quarter. NewEdge Advisors LLC now owns 2,828 shares of the company’s stock valued at $386,000 after purchasing an additional 2,373 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: AI-agent opportunity strengthens the growth story. Okta unveiled Agent SSO, runtime enforcement, an AI-agent gateway, lifecycle-management tools and an “AI kill switch.” The products are designed to secure and govern enterprise AI agents, potentially expanding Okta’s market beyond traditional identity software. BofA raises Okta price target on AI-agent positioning
• Positive Sentiment: Analyst support remains strong. BofA raised its price target to $220, while RBC, Wells Fargo, DA Davidson, Guggenheim and BMO also issued higher targets, generally citing Okta’s positioning in AI identity and the possibility of renewed growth. Analysts issue bullish signals on Okta
• Neutral Sentiment: Recent earnings were solid but not a new catalyst. Okta’s latest quarterly earnings and revenue exceeded consensus estimates, with revenue up 10.6% year over year. However, the conference did not include a major financial update, leaving investors without clear evidence of when AI-agent products will materially accelerate results.
• Negative Sentiment: Sell-the-news and valuation concerns are pressuring the stock. Okta’s shares had climbed sharply and were near recent highs, making them vulnerable to profit-taking. Mizuho retained a Neutral view pending proof that growth can sustainably reaccelerate, while Jefferies identified customer confusion as an adoption hurdle. The elevated valuation also leaves limited room for execution disappointments. Mizuho remains neutral on Okta
• Negative Sentiment: Insider selling adds a modest overhang. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The sale occurred under a pre-arranged Rule 10b5-1 plan, which reduces its significance but may still weigh on sentiment. SEC filing for Todd McKinnon stock sale

Okta Company Profile

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.