Okta (NASDAQ:OKTA) Price Target Raised to $190.00

Okta (NASDAQ:OKTA) had its price objective increased by JPMorgan Chase & Co. from $165.00 to $190.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

OKTA has been the subject of several other reports. Mizuho lifted their price objective on shares of Okta from $145.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their target price on Okta from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada raised their target price on Okta from $166.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday. KeyCorp lifted their price target on Okta from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Guggenheim set a $188.00 price target on Okta and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $172.92.

Okta Stock Down 3.9%

OKTA opened at $166.23 on Thursday. The company has a market cap of $28.89 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 5.94 and a beta of 0.77. The firm’s 50-day moving average price is $141.34 and its 200-day moving average price is $105.53. Okta has a 52-week low of $62.66 and a 52-week high of $174.85.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 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 analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. Okta’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts anticipate that Okta will post 1.77 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brett Tighe sold 65,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at $14,032,480. This represents a 35.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the firm’s 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 sale, the chief executive officer owned 38,484 shares in the company, valued at $5,642,524.08. This trade represents a 64.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,347 shares of company stock worth $21,827,342 over the last three months. Corporate insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Several institutional investors have recently bought and sold shares of the business. SHP Wealth Management purchased a new stake in shares of Okta in the fourth quarter valued at approximately $27,000. Washington Trust Advisors Inc. raised its stake in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after buying an additional 77 shares during the period. Torren Management LLC purchased a new position in shares of Okta during the 4th quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after buying an additional 218 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after acquiring an additional 322 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

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.