Barclays Forecasts Strong Price Appreciation for Okta (NASDAQ:OKTA) Stock

Okta (NASDAQ:OKTA) had its price objective increased by equities researchers at Barclays from $93.00 to $120.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 2.65% from the stock’s current price.

Other research analysts also recently issued reports about the company. Arete Research set a $127.00 price target on Okta and gave the company a “buy” rating in a report on Tuesday. Wolfe Research assumed coverage on Okta in a report on Thursday, April 16th. They issued an “outperform” rating for the company. Citigroup reiterated an “outperform” rating on shares of Okta in a report on Friday. Royal Bank Of Canada boosted their price target on Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a report on Friday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $134.00 price target on shares of Okta in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.83.

Okta Stock Up 30.1%

Shares of Okta stock traded up $28.55 during trading on Friday, hitting $123.27. 17,536,081 shares of the company were exchanged, compared to its average volume of 3,575,812. The firm has a 50 day moving average price of $79.01 and a 200 day moving average price of $82.69. The stock has a market capitalization of $21.81 billion, a price-to-earnings ratio of 94.10, a P/E/G ratio of 3.49 and a beta of 0.59. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $124.79.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm 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. Analysts predict that Okta will post 1.61 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 1,054 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00. Following the completion of the sale, the insider directly owned 48,448 shares in the company, valued at $3,875,840. This represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Schellhase acquired 3,712 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $72.04 per share, with a total value of $267,412.48. Following the completion of the acquisition, the director owned 3,712 shares in the company, valued at approximately $267,412.48. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 70,884 shares of company stock worth $5,625,648. 4.61% of the stock is currently owned by company insiders.

Institutional Trading of Okta

A number of institutional investors and hedge funds have recently made changes to their positions in OKTA. Vanguard Group Inc. raised its stake in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after acquiring an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co raised its stake in Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after acquiring an additional 15,058 shares during the period. Congress Asset Management Co. raised its stake in Okta by 23.0% during the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock worth $8,480,000 after acquiring an additional 18,325 shares during the period. Finally, Swedbank AB raised its stake in Okta by 124.3% during the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after acquiring an additional 1,007,915 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat estimates on both revenue and earnings, posting $765 million in revenue and $0.91 in adjusted EPS, while management pointed to improving execution and accelerating demand for identity security tied to AI agents. Okta Shares Climb After Strong Q1 Results, Forward Guidance
• Positive Sentiment: The company raised its FY2027 outlook, with EPS guidance above Wall Street’s expectations, reinforcing the view that growth and profitability are improving. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Analysts responded by lifting price targets across the board, including BTIG, Needham, JPMorgan, RBC, Berenberg, Oppenheimer, Morgan Stanley, and Canaccord, signaling stronger confidence in Okta’s fundamentals after the print. Okta Stock Surges After Surprising Q1 Results, FY27 Boost
• Positive Sentiment: Several research notes highlighted cRPO growth, large-enterprise momentum, and an AI/security tailwind as reasons the stock could have more upside even after its big move. Okta (OKTA) Stock Soars 27% Following Stellar Earnings Beat and Raised Guidance
• Neutral Sentiment: Okta also announced it will participate in upcoming investor conferences, which is informational but not a major stock driver by itself. Okta to Present at Upcoming Investor Conferences
• Neutral Sentiment: Not all analyst targets imply meaningful upside from the current share price, suggesting some of the good news may already be reflected in the stock’s rally. Analyst price target updates on Okta

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.