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

Okta (NASDAQ:OKTA) had its price objective boosted by Needham & Company LLC from $140.00 to $200.00 in a research note released on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also commented on OKTA. The Goldman Sachs Group began coverage on shares of Okta in a report on Monday, July 6th. They set a “buy” rating for the company. Susquehanna raised their price target on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Evercore began coverage on shares of Okta in a research report on Monday, July 6th. They issued an “outperform” rating on the stock. Guggenheim upped their price objective on shares of Okta from $138.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Canaccord Genuity Group increased their target price on shares of Okta from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $172.92.

Okta Price Performance

Shares of Okta stock opened at $166.23 on Thursday. Okta has a one year low of $62.66 and a one year high of $174.85. The business’s 50 day simple moving average is $141.34 and its two-hundred day simple moving average is $105.53. The stock has a market capitalization of $28.89 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 5.94 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Sell-side analysts expect that Okta will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other Okta news, 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 transaction, the chief executive officer owned 38,484 shares in the company, valued at approximately $5,642,524.08. This represents a 64.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the completion of the transaction, the insider directly owned 23,477 shares of the company’s stock, valued at $3,148,970.01. This represents a 51.54% 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 a total of 165,347 shares of company stock worth $21,827,342 over the last quarter. Insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new position in Okta during the fourth quarter valued at $27,000. Washington Trust Advisors Inc. grew its position in shares of Okta by 64.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after buying an additional 77 shares during the period. Torren Management LLC purchased a new stake in shares of Okta in the 4th quarter worth about $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Okta by 279.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after acquiring an additional 218 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after acquiring an additional 322 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

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.