Okta (NASDAQ:OKTA) Given New $230.00 Price Target at Needham & Company LLC

Okta (NASDAQ:OKTA) had its price target boosted by Needham & Company LLC from $200.00 to $230.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

OKTA has been the subject of a number of other research reports. Scotiabank reissued an “outperform” rating and issued a $190.00 price objective on shares of Okta in a research note on Thursday, August 27th. Truist Financial reaffirmed a “buy” rating and set a $200.00 target price (up from $165.00) on shares of Okta in a research report on Thursday, August 27th. Citizens Jmp lifted their price target on Okta from $170.00 to $180.00 and gave the company a “market outperform” rating in a report on Thursday, August 27th. Bank of America boosted their price target on Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Citigroup restated a “market outperform” rating on shares of Okta in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.68.

Okta Stock Up 4.9%

Shares of Okta stock opened at $191.33 on Monday. The stock’s fifty day moving average is $154.59 and its two-hundred day moving average is $116.61. Okta has a 52 week low of $62.66 and a 52 week high of $192.59. The company has a market capitalization of $33.45 billion, a PE ratio of 115.26, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79.

Okta (NASDAQ:OKTA) last issued its 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 net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period last year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, research analysts anticipate that Okta will post 1.92 earnings per share for the current year.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This represents a 84.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 2,549 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $168.55, for a total value of $429,633.95. Following the sale, the insider owned 17,069 shares of the company’s stock, valued at approximately $2,876,979.95. This represents a 12.99% 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 sold a total of 151,485 shares of company stock worth $23,414,433 over the last three months. Corporate insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares during the last quarter. Geode Capital Management LLC boosted its stake in Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares in the last quarter. Swedbank AB grew its position in Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after purchasing an additional 397,507 shares during the last quarter. Finally, Norges Bank purchased a new stake in Okta during the 4th quarter worth approximately $175,193,000. 86.64% of the stock is owned by institutional investors and hedge funds.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham raised its price target from $200 to $230 and reiterated a “Buy” rating, implying further upside from recent levels. The firm cited strong traction for AI-agent security and Okta’s upcoming Oktane 2026 conference, where identity security and growth are expected to be key themes. Okta Prices by the Seat. Analyst Says AI Agents Are the Next Thing It Bills For
• Positive Sentiment: BTIG also reportedly lifted its price target, reinforcing the view that Okta could monetize rising demand for AI-related identity and security products. The analyst actions helped support the stock’s advance. Okta stock gains as Needham and BTIG lift price targets on AI security momentum
• Positive Sentiment: Cybersecurity stocks extended their recent gains after warnings about AI-related safety risks. Identity and endpoint-security companies, including Okta, led the sector’s move, providing an additional trading tailwind. Cybersecurity Stocks Extend Gains on AI Safety Warnings
• Neutral Sentiment: Investor interest is focused on whether AI security becomes a meaningful revenue opportunity. Okta charges largely on a per-seat basis, and analysts see AI agents as a potential new source of billable identities and permissions. However, the commercial payoff remains unproven. CrowdStrike and Okta Trade at Big Premiums Despite Unproven AI Payoff
• Negative Sentiment: Valuation remains a risk after Okta’s sharp rally. Coverage notes that the stock has climbed substantially since March, raising concerns that expectations for AI growth may already be reflected in the share price. Okta Stock Is Up 132% Since March. Is the Stock Already Priced In?
• Negative Sentiment: Bernstein downgraded Okta to “Market Perform” from “Outperform,” tempering the bullish analyst momentum and highlighting potential limits to near-term upside. Bernstein downgrades Okta to market perform from outperform

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.