Okta (NASDAQ:OKTA) Price Target Raised to $200.00

Okta (NASDAQ:OKTA) had its price objective increased by Bank of America from $170.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 9.13% from the company’s previous close.

A number of other research analysts have also issued reports on OKTA. Berenberg Bank lifted their target price on Okta from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 29th. Susquehanna upped their price target on Okta from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Mizuho increased their price target on Okta from $145.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. TD Cowen lifted their price objective on Okta from $160.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. Finally, Citigroup reissued a “market outperform” rating on shares of Okta in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.89.

Okta Trading Down 3.6%

OKTA traded down $6.75 during trading hours on Friday, hitting $183.27. 1,522,171 shares of the company’s stock were exchanged, compared to its average volume of 3,573,935. The firm has a market cap of $32.04 billion, a P/E ratio of 110.77, a price-to-earnings-growth ratio of 5.85 and a beta of 0.79. Okta has a 12-month low of $62.66 and a 12-month high of $192.59. The firm has a 50 day moving average of $152.68 and a 200 day moving average of $115.01.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last 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. As a group, research analysts expect that Okta will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Kelleher sold 2,549 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $168.55, for a total value of $429,633.95. Following the transaction, the insider owned 17,069 shares in the company, valued at approximately $2,876,979.95. This represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the sale, the insider directly owned 25,241 shares in the company, valued at $3,028,920. This trade represents a 8.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 153,948 shares of company stock valued at $23,709,993 in the last three months. Corporate insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Okta in the fourth quarter valued at approximately $175,193,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares during the period. Swedbank AB grew its position in Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after buying an additional 1,007,915 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after buying an additional 550,328 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in Okta by 2,982.2% in the 4th quarter. Jupiter Asset Management Ltd. now owns 514,449 shares of the company’s stock valued at $44,484,000 after buying an additional 497,758 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Investors continue to favor cybersecurity and identity-security companies as the growth of AI agents and “agent swarms” raises demand for authentication, access controls, and monitoring. Commentators including Jim Cramer argued that AI could make Okta’s security software more essential. Jim Cramer Says AI Could Make Okta’s Security Software More Essential
• Positive Sentiment: BTIG raised its Okta price target to $219 from $187 and maintained a buy rating, while recent coverage highlighted the company’s strong relative performance and the potential for continued AI-related cybersecurity demand. Okta Stock Jumped 11% This Week
• Positive Sentiment: Okta expanded its strategic distribution partnership with Exclusive Networks to scale identity-first security across Sub-Saharan Africa, potentially broadening its international channel reach. Exclusive Networks and Okta Extend Strategic Distribution Partnership
• Neutral Sentiment: Institutional positioning was mixed: 455 investors added shares in the latest quarter versus 438 that reduced holdings. This suggests continued interest but also meaningful profit-taking after the rally.
• Negative Sentiment: Bernstein downgraded Okta to a market-perform-style rating, despite raising its price target. The downgrade signals that the analyst sees less near-term upside after the stock’s sharp advance and believes favorable cybersecurity expectations may already be reflected in the valuation. Analyst Downgrades Cybersecurity Stocks as AI Security Concerns Mount
• Negative Sentiment: Frequent insider selling is an additional sentiment headwind: company executives, including the CEO and CFO, have reported substantially more sales than purchases over the past six months. Okta’s elevated valuation makes the shares more vulnerable to profit-taking and analyst caution.

About Okta

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.