Okta (NASDAQ:OKTA) Coverage Initiated at Wells Fargo & Company

Analysts at Wells Fargo & Company initiated coverage on shares of Okta (NASDAQ:OKTA) in a research note issued on Tuesday. The firm set an “equal weight” rating and a $76.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 2.74% from the company’s current price.

A number of other analysts also recently issued reports on OKTA. Susquehanna reduced their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Citigroup reissued a “neutral” rating on shares of Okta in a report on Monday, January 12th. Mizuho reduced their price target on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Barclays lowered their price objective on shares of Okta from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Finally, Morgan Stanley reduced their target price on shares of Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.29.

Okta Stock Up 2.0%

Shares of OKTA stock opened at $73.97 on Tuesday. The company’s fifty day simple moving average is $86.06 and its two-hundred day simple moving average is $87.76. Okta has a 52 week low of $68.77 and a 52 week high of $127.57. The stock has a market cap of $13.11 billion, a P/E ratio of 67.86, a PEG ratio of 2.81 and a beta of 0.79.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, analysts anticipate that Okta will post 0.42 EPS for the current fiscal year.

Okta announced that its Board of Directors has initiated a share buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 1,899 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the sale, the insider owned 38,164 shares in the company, valued at $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 8,370 shares of Okta stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $90.19, for a total value of $754,890.30. Following the sale, the insider owned 11,266 shares of the company’s stock, valued at approximately $1,016,080.54. This trade represents a 42.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 37,245 shares of company stock worth $3,385,624. Insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Okta in the 1st quarter worth $225,000. NewEdge Advisors LLC lifted its stake in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after acquiring an additional 4,950 shares during the period. Sivia Capital Partners LLC bought a new position in Okta during the 2nd quarter worth about $244,000. Arkadios Wealth Advisors bought a new position in shares of Okta during the second quarter valued at approximately $501,000. Finally, Hantz Financial Services Inc. boosted its position in Okta by 572.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock valued at $54,000 after acquiring an additional 458 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Jefferies set a new $105 price target and kept a Buy rating, signaling analyst conviction that shares still have meaningful upside versus the current level. Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Robert W. Baird (reported via TipRanks) maintained a Buy rating with a $125 target, reinforcing a bullish view tied to Okta’s role in identity security as AI adoption grows. Okta: Strengthening Identity Security Amid AI Adoption
• Positive Sentiment: Analyst previews (Zacks) expect Okta’s upcoming Q4 to show steady revenue growth, rising remaining performance obligations (RPO) and tailwinds from AI-security demand — all items that can support the stock on a beat or constructive guidance. Okta Set to Report Q4 Earnings: What’s in Store for the Stock?
• Neutral Sentiment: Okta announced a management presentation at an upcoming investor conference — useful for transparency and cadence but unlikely to move the stock unless new guidance or metrics are disclosed. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: Jim Cramer praised CEO Todd McKinnon’s performance but noted market skepticism that “chatbots” or new AI entrants could replace incumbent identity providers — a mixed view that keeps sentiment fragile. Jim Cramer on Okta
• Negative Sentiment: BTIG cut its price target to $90 (from $116) while keeping a Buy rating — a notable trim that signals reduced near-term expectations. BTIG lowers OKTA target
• Negative Sentiment: Cantor Fitzgerald lowered its target to $100, and BMO reduced its target to $83 and moved to Market Perform — multiple downgrades that highlight analyst caution and help explain recent downward pressure on the share price. Cantor Fitzgerald Cuts Okta BMO Capital Expects Solid Q1 Results

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.