Okta’s (OKTA) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Okta (NASDAQ:OKTA) in a research report released on Thursday morning,Benzinga reports. They currently have a $219.00 target price on the stock.

A number of other research firms have also recently weighed in on OKTA. Canaccord Genuity Group lifted their price objective on Okta from $115.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Berenberg Bank increased their target price on shares of Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Okta in a research note on Friday, May 29th. DA Davidson lifted their price target on shares of Okta from $190.00 to $235.00 and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim upped their price target on shares of Okta from $188.00 to $227.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.41.

Okta Stock Performance

Shares of Okta stock opened at $195.19 on Thursday. Okta has a one year low of $62.66 and a one year high of $212.50. The stock’s fifty day moving average is $158.62 and its 200 day moving average is $119.79. The stock has a market cap of $34.12 billion, a P/E ratio of 117.59, a P/E/G ratio of 6.07 and a beta of 0.79.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million for 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%.Okta’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Analysts predict that Okta will post 1.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric Kelleher sold 6,395 shares of Okta stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the sale, the insider 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer directly owned 44,029 shares in the company, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 206,702 shares of company stock worth $34,034,508. 4.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

Several hedge funds have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. bought a new position in shares of Okta during the fourth quarter worth $3,122,000. Diversify Wealth Management LLC bought a new stake in Okta in the 1st quarter valued at $2,077,000. Torque Asset Management LLC increased its holdings in Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after acquiring an additional 83,337 shares during the last quarter. Swiss National Bank lifted its stake in Okta by 7.7% in the 1st quarter. Swiss National Bank now owns 497,300 shares of the company’s stock worth $39,142,000 after purchasing an additional 35,700 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Okta by 74.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 33,235 shares of the company’s stock worth $2,874,000 after purchasing an additional 14,138 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: AI-agent opportunity strengthens the growth story. Okta unveiled Agent SSO, runtime enforcement, an AI-agent gateway, lifecycle-management tools and an “AI kill switch.” The products are designed to secure and govern enterprise AI agents, potentially expanding Okta’s market beyond traditional identity software. BofA raises Okta price target on AI-agent positioning
• Positive Sentiment: Analyst support remains strong. BofA raised its price target to $220, while RBC, Wells Fargo, DA Davidson, Guggenheim and BMO also issued higher targets, generally citing Okta’s positioning in AI identity and the possibility of renewed growth. Analysts issue bullish signals on Okta
• Neutral Sentiment: Recent earnings were solid but not a new catalyst. Okta’s latest quarterly earnings and revenue exceeded consensus estimates, with revenue up 10.6% year over year. However, the conference did not include a major financial update, leaving investors without clear evidence of when AI-agent products will materially accelerate results.
• Negative Sentiment: Sell-the-news and valuation concerns are pressuring the stock. Okta’s shares had climbed sharply and were near recent highs, making them vulnerable to profit-taking. Mizuho retained a Neutral view pending proof that growth can sustainably reaccelerate, while Jefferies identified customer confusion as an adoption hurdle. The elevated valuation also leaves limited room for execution disappointments. Mizuho remains neutral on Okta
• Negative Sentiment: Insider selling adds a modest overhang. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The sale occurred under a pre-arranged Rule 10b5-1 plan, which reduces its significance but may still weigh on sentiment. SEC filing for Todd McKinnon stock sale

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.