Berenberg Bank Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its target price lifted by analysts at Berenberg Bank from $120.00 to $135.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 42.53% from the stock’s previous close.

OKTA has been the topic of a number of other reports. Needham & Company LLC boosted their price objective on Okta from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson reissued a “buy” rating and issued a $110.00 price target on shares of Okta in a research report on Thursday, March 5th. Barclays raised their price objective on shares of Okta from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Mizuho increased their target price on Okta from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.03.

Okta Stock Up 5.8%

Okta stock opened at $94.72 on Friday. The firm has a 50 day moving average price of $79.01 and a 200-day moving average price of $82.69. Okta has a twelve month low of $62.66 and a twelve month high of $107.84. The company has a market capitalization of $16.76 billion, a P/E ratio of 72.31, a P/E/G ratio of 3.49 and a beta of 0.59.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities analysts expect that Okta will post 1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total transaction of $192,720.00. Following the transaction, the insider directly owned 15,470 shares in the company, valued at $1,237,600. This trade represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the sale, the executive directly owned 4,364 shares of the company’s stock, valued at $339,475.56. This trade represents a 84.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,884 shares of company stock valued at $5,625,648 over the last 90 days. Company insiders own 4.61% of the company’s stock.

Institutional Investors Weigh In On Okta

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. First Trust Advisors LP boosted its position in Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares during the period. Geode Capital Management LLC lifted its stake in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after purchasing an additional 69,653 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Q1 expectations with revenue of $765 million and adjusted EPS of $0.91, topping consensus and showing 11.2% year-over-year revenue growth. Okta (OKTA) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management issued Q2 and full-year FY2027 guidance above or in line with estimates, reinforcing confidence in execution and future growth. Okta earnings report and conference call materials
• Positive Sentiment: Multiple firms raised targets after the earnings release, including JPMorgan to $114, BTIG to $119, Needham to $120, BMO to $120, Mizuho to $110, and Oppenheimer to $125, signaling stronger Street conviction. Analyst price target updates
• Positive Sentiment: Analysts highlighted improving enterprise momentum and AI-driven identity demand, which could expand Okta’s long-term market opportunity. Okta to Present at Upcoming Investor Conferences
• Neutral Sentiment: Okta announced it will present at upcoming investor conferences, which keeps management in front of investors but is not, by itself, a new operating catalyst. Okta to Present at Upcoming Investor Conferences

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.