Okta (NASDAQ:OKTA) Receives Buy Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Okta (NASDAQ:OKTA) in a report released on Thursday morning,Benzinga reports. DA Davidson currently has a $110.00 target price on the stock.

Several other research firms have also recently weighed in on OKTA. Guggenheim reaffirmed a “buy” rating and set a $138.00 price objective on shares of Okta in a research report on Wednesday, December 3rd. Roth Mkm restated a “buy” rating on shares of Okta in a research note on Wednesday, December 3rd. Zacks Research upgraded Okta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. BTIG Research reduced their price target on Okta from $116.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald decreased their price objective on Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.97.

Okta Stock Up 11.0%

Shares of Okta stock opened at $79.65 on Thursday. The business has a 50 day moving average of $85.22 and a 200 day moving average of $87.46. Okta has a 52 week low of $68.77 and a 52 week high of $127.57. The company has a market cap of $14.12 billion, a PE ratio of 60.80, a P/E/G ratio of 2.78 and a beta of 0.79.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.22%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, research analysts anticipate that Okta will post 0.42 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 1,836 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $83.47, for a total transaction of $153,250.92. Following the sale, the insider directly owned 36,328 shares of the company’s stock, valued at approximately $3,032,298.16. This represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,927 shares of company stock valued at $3,272,658. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently made changes to their positions in OKTA. Root Financial Partners LLC bought a new stake in shares of Okta during the third quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its stake in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Promus Capital LLC purchased a new stake in Okta during the 2nd quarter valued at $27,000. SHP Wealth Management bought a new stake in shares of Okta in the 4th quarter worth $27,000. Finally, Torren Management LLC bought a new stake in shares of Okta in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 beat and operational improvement — Okta reported revenue of $761M and non‑GAAP EPS of $0.90, topping estimates, with cRPO and subscription growth improving and margins expanding; this clear upside is the main catalyst for the rally. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: AI agent narrative gaining traction — management emphasized “Okta for AI Agents” products; investors are rewarding the company for positioning identity as a core control point for autonomous AI, which could open a new TAM if adoption follows. Okta Sees AI Agents Fueling Next Growth Wave
• Positive Sentiment: Analyst support and bullish notes — several firms (Jefferies, DA Davidson, Morgan Stanley, UBS excerpts) highlighted upside potential and maintained or raised ratings/targets for Okta after the print, helping drive buying interest. Okta shares rally on strong earnings as Jefferies analysts see room for revenue upside
• Neutral Sentiment: Sector tailwind — cloud and cybersecurity ETFs traded higher alongside Okta, amplifying the move; this is a market‑wide boost rather than company‑specific validation. Cloud stocks jump, head for best day in nearly a year despite broad market declines
• Negative Sentiment: Soft near‑term guidance — Okta guided Q1 revenue below Street estimates ( ~$749M–$753M ), flagging the slowest revenue growth since IPO and tempering enthusiasm about re‑acceleration. Okta forecasts slowest revenue growth since IPO amid economic uncertainty
• Negative Sentiment: Analyst price‑target cuts and mixed forward view — while many firms kept buy/overweight ratings, dozens trimmed targets and flagged decelerating retention and large‑ACV additions as risks, limiting upside conviction. Okta Posts Q4 Beat; Analysts Cut Price Targets For Early AI Agent ‘Leader’

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.