Okta (NASDAQ:OKTA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald upped their price target on Okta from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. TD Cowen boosted their target price on Okta from $160.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. KeyCorp upped their target price on Okta from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. HC Wainwright initiated coverage on Okta in a report on Monday, July 6th. They set a “buy” rating for the company. Finally, Weiss Ratings raised Okta from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $172.92.

Okta Price Performance

Shares of OKTA opened at $173.04 on Friday. Okta has a 1 year low of $62.66 and a 1 year high of $174.85. The stock has a 50 day simple moving average of $142.48 and a two-hundred day simple moving average of $106.25. The firm has a market cap of $30.08 billion, a P/E ratio of 104.24, a P/E/G ratio of 5.76 and a beta of 0.77.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%.The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts anticipate that Okta will post 1.77 earnings per share for the current year.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the transaction, the chief executive officer owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This represents a 64.17% decrease in their position. The sale 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 Eric Robert Kelleher sold 3,977 shares of the firm’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 owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,376 shares of company stock worth $18,477,982 over the last quarter. Insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Okta in the 1st quarter worth about $225,000. NewEdge Advisors LLC increased its stake in shares of Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after acquiring an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Okta during the 2nd quarter valued at about $244,000. Invesco Ltd. lifted its position in Okta by 34.1% during the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after acquiring an additional 109,614 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Okta by 122.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock worth $162,000 after acquiring an additional 893 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported fiscal Q2 revenue of $805 million, up 11% year over year, while non-GAAP EPS of $1.05 exceeded the $0.96 consensus estimate. Subscription backlog also remained strong, with remaining performance obligations increasing 17%, supporting expectations for continued demand. Okta gains as investors continue to digest strong quarterly results and a higher outlook
• Positive Sentiment: Management raised fiscal 2027 guidance to $3.216 billion–$3.226 billion in revenue and $3.90–$3.94 in non-GAAP EPS, reinforcing investor confidence in the company’s earnings trajectory. Why Okta Stock Skyrocketed This Week
• Positive Sentiment: Analyst sentiment has improved following the earnings report. Needham raised its price target to a Street-high $200, while other coverage highlights Okta’s margins, free cash flow, enterprise demand, and potential to secure AI agents and non-human identities. Okta Stock Just Got a New Street-High Price Target
• Positive Sentiment: The acquisition of Permiso Security adds cloud-native identity threat-detection capabilities and strengthens Okta’s positioning in the growing AI identity-security market. OKTA’s AI Security Push Gains Momentum Against CRWD and MSFT
• Neutral Sentiment: Institutional positioning was mixed, with 451 investors adding shares and 441 reducing positions in the latest quarter. A broader digital-identity market report points to long-term demand from passkeys, biometrics, and fraud prevention, but does not represent a direct company catalyst. Global Digital Identity and Trust Infrastructure Market 2026
• Negative Sentiment: Valuation and execution risks remain. Okta trades at a premium after its recent rally, while Microsoft and CrowdStrike intensify competition in identity and cybersecurity. Reported insider activity was also heavily weighted toward sales, including transactions by senior executives.

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.