KeyCorp Boosts Okta (NASDAQ:OKTA) Price Target to $190.00

Okta (NASDAQ:OKTA) had its price target increased by investment analysts at KeyCorp from $180.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 41.35% from the stock’s current price.

Several other research analysts have also recently weighed in on OKTA. Berenberg Bank increased their price objective on Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Evercore initiated coverage on shares of Okta in a research note on Monday, July 6th. They issued an “outperform” rating on the stock. Oppenheimer lifted their price objective on shares of Okta from $125.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on shares of Okta from $120.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Finally, Capital One Financial set a $171.00 target price on shares of Okta and gave the stock an “overweight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.03.

Okta Stock Up 2.9%

Shares of NASDAQ:OKTA opened at $134.42 on Thursday. Okta has a 12-month low of $62.66 and a 12-month high of $157.00. The business has a 50 day moving average of $139.27 and a 200-day moving average of $104.50. The stock has a market cap of $23.36 billion, a PE ratio of 97.41, a P/E/G ratio of 4.70 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company 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. Equities research analysts expect that Okta will post 1.75 earnings per share for the current year.

Insider Activity

In other news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the transaction, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 165,347 shares of company stock worth $21,827,342. 4.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in Okta by 13,755.2% during the 2nd quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock worth $4,949,942,000 after purchasing an additional 36,014,770 shares in the last quarter. Norges Bank acquired a new stake in Okta in the fourth quarter valued at approximately $175,193,000. Allspring Global Investments Holdings LLC boosted its position in Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after buying an additional 1,326,051 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of Okta by 276.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after buying an additional 1,031,083 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly results exceeded expectations. Okta reported adjusted earnings of $1.05 per share versus the $0.96 analyst consensus, while revenue increased 10.6% year over year to $805 million, topping estimates of $793 million. Okta Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Raised guidance provides an additional catalyst. Okta now expects fiscal 2027 revenue of approximately $3.216 billion to $3.226 billion, representing 10% to 11% growth and above its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue guidance of $813 million to $817 million and EPS guidance of $0.92 to $0.94 also exceeded Wall Street expectations. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: AI-related demand is strengthening Okta’s growth narrative. Management highlighted increasing adoption of AI agents, new products contributing roughly 30% of bookings, record non-fourth-quarter bookings and partner-led sales. Investors view identity controls as increasingly important for securing AI-driven workflows. Okta and CrowdStrike Stocks Jump After Earnings
• Neutral Sentiment: Analyst support improved, but valuation remains a consideration. Robert W. Baird reiterated a Buy rating and set a $185 price target. However, Okta’s elevated valuation—including a P/E ratio near 97—may limit further gains if growth or guidance begins to slow. Okta Buy Rating and Raised Price Target

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.