Mizuho Lowers Okta (NASDAQ:OKTA) Price Target to $100.00

Okta (NASDAQ:OKTA) had its target price cut by investment analysts at Mizuho from $110.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 14.60% from the company’s previous close.

Several other brokerages also recently weighed in on OKTA. Roth Mkm restated a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. Stifel Nicolaus reduced their price target on shares of Okta from $130.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Okta in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, December 3rd. Finally, Susquehanna lowered their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.85.

Okta Price Performance

Okta stock opened at $87.26 on Tuesday. The firm has a market cap of $15.47 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 3.48 and a beta of 0.77. The stock’s fifty day moving average price is $88.86 and its two-hundred day moving average price is $88.97. Okta has a one year low of $75.05 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.Okta’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Sell-side analysts expect that Okta will post 0.42 earnings per share for the current fiscal year.

Okta announced that its Board of Directors has authorized 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 purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 8,370 shares of Okta stock in a transaction that occurred 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 completion of the sale, the insider owned 11,266 shares of the company’s stock, valued at approximately $1,016,080.54. The trade was a 42.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,245 shares of company stock valued at $3,385,624 over the last 90 days. 5.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

A number of large investors have recently bought and sold shares of the stock. Smith Group Asset Management LLC lifted its position in shares of Okta by 2.0% during the 2nd quarter. Smith Group Asset Management LLC now owns 242,793 shares of the company’s stock worth $24,272,000 after buying an additional 4,798 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in Okta during the third quarter worth $7,946,000. SBI Securities Co. Ltd. boosted its position in Okta by 35.3% in the second quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock worth $3,580,000 after purchasing an additional 9,340 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Okta in the 2nd quarter valued at $30,074,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after purchasing an additional 179,919 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.