DA Davidson Reaffirms Buy Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reiterated by DA Davidson in a report issued on Wednesday,Benzinga reports. They presently have a $140.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 61.09% from the company’s current price.

OKTA has been the subject of a number of other research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Okta in a research report on Monday. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Wednesday, August 27th. Susquehanna reduced their price target on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday. Guggenheim restated a “buy” rating and issued a $138.00 price objective on shares of Okta in a report on Wednesday. Finally, Cowen reaffirmed a “hold” rating on shares of Okta in a research report on Wednesday. Twenty-three equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.59.

Okta Stock Performance

NASDAQ OKTA traded up $5.04 on Wednesday, reaching $86.91. The company’s stock had a trading volume of 7,699,498 shares, compared to its average volume of 3,392,403. Okta has a twelve month low of $75.05 and a twelve month high of $127.57. The firm’s 50 day moving average is $87.06 and its two-hundred day moving average is $94.08. The stock has a market cap of $15.22 billion, a PE ratio of 101.78, a PEG ratio of 3.96 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities research analysts anticipate that Okta will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 1,318 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $85.26, for a total value of $112,372.68. Following the transaction, the insider directly owned 36,519 shares of the company’s stock, valued at $3,113,609.94. The trade was a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The SEC filing for this sale provides additional information. Insiders have sold 64,975 shares of company stock worth $6,011,126 in the last three months. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Okta during the second quarter worth approximately $211,923,000. Alkeon Capital Management LLC acquired a new stake in Okta during the 1st quarter worth $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after acquiring an additional 1,189,222 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in shares of Okta by 276.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after purchasing an additional 1,031,083 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.