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

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued on Thursday, Benzinga reports. They currently have a $219.00 price target on the stock. BTIG Research’s price target would suggest a potential upside of 4.57% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Okta from $126.00 to $203.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Mizuho set a $200.00 price target on Okta in a research note on Thursday. Morgan Stanley increased their price objective on shares of Okta from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Canaccord Genuity Group increased their target price on Okta from $115.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 price target (up from $165.00) on shares of Okta in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.41.

Okta Trading Up 2.0%

OKTA traded up $4.06 during midday trading on Thursday, reaching $209.42. The company’s stock had a trading volume of 3,393,744 shares, compared to its average volume of 3,615,729. The stock has a market cap of $36.61 billion, a P/E ratio of 126.16, a PEG ratio of 6.12 and a beta of 0.79. The company has a fifty day simple moving average of $156.52 and a 200 day simple moving average of $118.37. Okta has a twelve month low of $62.66 and a twelve month high of $212.50.

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

Insider Buying and Selling at Okta

In related news, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the sale, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This represents a 84.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 157,880 shares of company stock worth $24,588,427. Insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. SHP Wealth Management acquired a new stake in Okta during the 4th quarter worth approximately $27,000. Washington Trust Advisors Inc. increased its stake in Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after acquiring an additional 77 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Okta by 279.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after acquiring an additional 218 shares during the last quarter. Assetmark Inc. increased its stake in Okta by 81.1% in the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock valued at $57,000 after acquiring an additional 322 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in Okta by 1,265.5% in the first quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock valued at $59,000 after acquiring an additional 696 shares during the last quarter. 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: Broad analyst support is lifting sentiment. BTIG reaffirmed a Buy rating with a $219 target, while RBC raised its target to $230 and DA Davidson increased its target to $235, both with Buy-equivalent bullish ratings. Wells Fargo lifted its target to $230 and maintained Overweight, while Guggenheim raised its target to $227 and reiterated Buy. These revisions suggest Wall Street sees additional upside from Okta’s improved fundamentals and AI growth opportunity. Analyst price target revisions
• Positive Sentiment: Oktane’s AI focus is strengthening Okta’s growth narrative. The company introduced tools including an AI-agent runtime gateway, agent lifecycle-management capabilities and an AI “kill switch.” Its Blueprint Alliance with AWS and CrowdStrike, along with partner support for Okta’s Cross App Access protocol, could expand identity governance into the rapidly developing agentic-AI market. Okta AI agent gateway and partnership
• Neutral Sentiment: Investors still want evidence of durable growth. Jefferies expects stronger growth by 2027 as AI-agent adoption builds, but says customer confusion remains a hurdle. Mizuho stayed Neutral after the conference, seeking proof that growth reacceleration can persist before becoming more positive. Mizuho remains neutral on Okta
• Negative Sentiment: Valuation and momentum risks could trigger volatility. After a substantial multiyear rally, analysts and market commentary question whether future cash generation justifies the premium valuation. An overbought RSI above 70 also signals short-term momentum risk. In addition, insider Eric Kelleher sold approximately $1.17 million of shares under a pre-arranged Rule 10b5-1 plan; the scheduled nature limits its significance, but it may weigh modestly on sentiment.

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.