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

Okta (NASDAQ:OKTA) had its target price lifted by DA Davidson from $165.00 to $190.00 in a research note released on Thursday morning, MarketBeat reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on OKTA. Needham & Company LLC lifted their price objective on shares of Okta from $140.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Capital reissued a “buy” rating on shares of Okta in a research report on Thursday. Berenberg Bank increased their price objective on shares of Okta from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Piper Sandler raised their target price on shares of Okta from $105.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Royal Bank Of Canada lifted their target price on shares of Okta from $145.00 to $166.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.92.

Okta Stock Down 3.9%

NASDAQ:OKTA opened at $166.23 on Thursday. Okta has a 12-month low of $62.66 and a 12-month high of $174.85. The firm has a market capitalization of $28.89 billion, a price-to-earnings ratio of 100.14, a P/E/G ratio of 5.94 and a beta of 0.77. The stock’s 50 day moving average price is $141.34 and its two-hundred day moving average price is $105.53.

Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping the consensus estimate 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 return on equity of 4.50% and a net margin of 9.63%.The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $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. Equities research analysts expect that Okta will post 1.77 EPS for the current year.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 24,971 shares of Okta stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the completion of the transaction, the insider directly owned 23,477 shares of the company’s stock, valued at $3,148,970.01. The trade was a 51.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. The trade was a 16.86% 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 have sold 165,347 shares of company stock worth $21,827,342 in the last quarter. Insiders own 4.61% of the company’s stock.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. grew its stake in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after buying an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Okta by 279.5% in 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 during the period. SHP Wealth Management acquired a new position in shares of Okta in the 4th quarter valued at approximately $27,000. Torren Management LLC acquired a new position in shares of Okta in the 4th quarter valued at approximately $32,000. Finally, EFG International AG bought a new stake in shares of Okta during the 4th quarter worth approximately $61,000. Institutional investors own 86.64% of the company’s stock.

Key Okta News

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

Okta Company Profile

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.