Okta (NASDAQ:OKTA) Price Target Lowered to $110.00 at Needham & Company LLC

Okta (NASDAQ:OKTA) had its target price cut by equities research analysts at Needham & Company LLC from $125.00 to $110.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 34.36% from the company’s previous close.

A number of other research analysts also recently commented on OKTA. BTIG Research lowered their target price on Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday. KeyCorp reaffirmed an “overweight” rating and set a $140.00 price target on shares of Okta in a research note on Monday. Cantor Fitzgerald lowered their price objective on shares of Okta from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Canaccord Genuity Group raised shares of Okta from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $115.00 to $120.00 in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group set a $117.00 target price on shares of Okta in a research report on Wednesday. Twenty-three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.78.

Okta Stock Up 1.5%

OKTA opened at $81.87 on Wednesday. The company has a market capitalization of $14.33 billion, a PE ratio of 96.32, a price-to-earnings-growth ratio of 3.96 and a beta of 0.77. The firm has a 50-day simple moving average of $87.06 and a two-hundred day simple moving average of $94.08. Okta has a 52 week low of $76.35 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period 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. As a group, sell-side analysts expect that Okta will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In related news, insider Eric Robert Kelleher sold 2,410 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the sale, the insider directly owned 9,174 shares of the company’s stock, valued at $841,531.02. This represents a 20.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares of the company’s stock, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,975 shares of company stock worth $6,011,126. 5.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Okta

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock worth $1,872,167,000 after purchasing an additional 582,956 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Okta in the first quarter worth about $515,000. Fluent Financial LLC increased its stake in Okta by 94.9% in the 2nd quarter. Fluent Financial LLC now owns 10,825 shares of the company’s stock worth $1,082,000 after buying an additional 5,272 shares during the period. Ninety One SA PTY Ltd increased its stake in Okta by 57.9% in the 2nd quarter. Ninety One SA PTY Ltd now owns 49,209 shares of the company’s stock worth $4,920,000 after buying an additional 18,046 shares during the period. Finally, Alkeon Capital Management LLC bought a new stake in Okta during the 1st quarter valued at about $199,918,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.