Okta (NASDAQ:OKTA) Sets New 12-Month High – Time to Buy?

Shares of Okta, Inc. (NASDAQ:OKTA) reached a new 52-week high on Wednesday . The company traded as high as $191.99 and last traded at $190.45, with a volume of 3921941 shares traded. The stock had previously closed at $186.45.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target and upgraded Okta to Buy. BTIG lifted its target from $187 to $219, implying additional upside based on the referenced price. The call reinforces the bullish view following Okta’s earnings beat, which included $805 million of revenue and $1.05 in quarterly EPS versus estimates of $793 million and $0.96, respectively. BTIG analyst action
• Positive Sentiment: Okta expanded its international distribution relationship with Exclusive Networks. The companies plan to scale Okta’s identity-first security offerings across sub-Saharan Africa, potentially broadening channel reach and future customer demand. Exclusive Networks and Okta partnership
• Positive Sentiment: AI security is strengthening Okta’s growth narrative. CEO Todd McKinnon has highlighted AI agents as a new identity category and warned that AI adoption may increase cybersecurity risks. New AI-focused identity governance and privileged-access tools could help Okta protect both human and machine identities. Okta CEO discusses AI agents
• Neutral Sentiment: Investors are awaiting additional strategic details. Okta’s upcoming keynote and investor summit may provide updates on AI products, demand trends and financial guidance. Its recent rally has also prompted speculation about whether the stock can reach $200. Okta rally and $200 target discussion
• Negative Sentiment: Bernstein downgraded Okta despite raising some cybersecurity price targets. The firm is pushing back against the sector’s bullish AI-security narrative, creating a valuation and expectations risk for Okta after its strong run. A commentary piece likewise described the shares as overpriced. Analyst downgrades cybersecurity stocks
• Negative Sentiment: An insider sold shares. Eric Kelleher sold 2,549 shares for approximately $429,634 under a pre-arranged Rule 10b5-1 plan. The transaction is a modest sentiment negative but does not necessarily signal a discretionary bearish view.

Analysts Set New Price Targets

OKTA has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Okta from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Oppenheimer raised their price target on shares of Okta from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Piper Sandler raised their price target on shares of Okta from $105.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Scotiabank reiterated an “outperform” rating and set a $190.00 price objective on shares of Okta in a report on Thursday, August 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Okta from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday. One investment 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.11.

Okta Stock Performance

The company has a fifty day simple moving average of $152.68 and a two-hundred day simple moving average of $115.01. The firm has a market capitalization of $33.22 billion, a PE ratio of 114.47, a PEG ratio of 5.85 and a beta of 0.79.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million for 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 revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last 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. On average, equities analysts anticipate that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 41,251 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the sale, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. This represents a 8.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 153,948 shares of company stock worth $23,709,993. Company insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

Large investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. boosted its position in Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 valued at $40,000 after acquiring an additional 218 shares during the period. SHP Wealth Management bought a new position in shares of Okta in the 4th quarter worth $27,000. Assetmark Inc. raised its position 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. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Okta by 1,265.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock worth $59,000 after purchasing an additional 696 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Company Profile

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.