BMO Capital Markets Cuts Okta (NASDAQ:OKTA) Price Target to $83.00

Okta (NASDAQ:OKTA) had its price objective reduced by BMO Capital Markets from $90.00 to $83.00 in a research note published on Thursday, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other research firms also recently weighed in on OKTA. Morgan Stanley reduced their price target on shares of Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Okta in a research report on Monday, December 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 target price on shares of Okta in a research note on Friday, December 12th. Mizuho dropped their price target on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Finally, Barclays cut their price objective on Okta from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and an average target price of $110.57.

Okta Price Performance

NASDAQ OKTA opened at $72.50 on Thursday. The business has a fifty day moving average price of $86.40 and a two-hundred day moving average price of $87.88. The stock has a market capitalization of $12.85 billion, a PE ratio of 66.51, a PEG ratio of 2.81 and a beta of 0.77. Okta has a fifty-two week low of $68.77 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Okta’s revenue was up 11.6% on a year-over-year basis. 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.

Okta declared that its Board of Directors has initiated a stock buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 1,836 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider directly owned 36,328 shares in the company, valued at $3,032,298.16. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $84.40, for a total transaction of $203,319.60. Following the sale, the insider directly owned 11,266 shares of the company’s stock, valued at $950,850.40. This represents a 17.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 37,245 shares of company stock worth $3,385,624. Corporate insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

Hedge funds have recently added to or reduced their stakes in the business. Promus Capital LLC bought a new position in shares of Okta during the 2nd quarter worth approximately $27,000. Root Financial Partners LLC bought a new position in Okta during the third quarter worth $26,000. Elevation Wealth Partners LLC grew its holdings in Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. Torren Management LLC bought a new stake in Okta in the fourth quarter valued at $32,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Okta in the third quarter valued at $34,000. 86.64% of the stock is currently owned by institutional investors.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Zacks upgraded Okta to a “Strong Buy,” signaling growing optimism that its upcoming results could surprise positively and support a rally. Okta (OKTA) Upgraded to Strong Buy
• Positive Sentiment: Cantor Fitzgerald kept an Overweight rating even after trimming its price target, indicating some analysts still see meaningful upside if fundamentals stabilize. Cantor Fitzgerald price target note
• Neutral Sentiment: MarketBeat highlights Okta as one of the beaten-down SaaS names that could bounce if its next report reassures investors; the March earnings cadence is framed as the key near-term catalyst (can go either way). After a Brutal Selloff, Are These 3 SaaS Giants About to Bounce?
• Neutral Sentiment: Countdown/preview pieces (Yahoo/Zacks) urge investors to look beyond revenue and EPS for metrics such as customer retention, ARR trends, and margin drivers—items that will likely determine the stock’s direction after the report. Countdown to Okta (OKTA) Q4 Earnings
• Negative Sentiment: BMO trimmed its price target and lowered its rating to “market perform,” reflecting more cautious near-term expectations and adding downward pressure on sentiment. BMO price target cut
• Negative Sentiment: Broad sector fears that AI could compress SaaS pricing/usage (the so‑called “SaaSpocalypse”) continue to drive selling across names including Okta; if Okta’s results or guidance disappoint, the selloff could accelerate. 2 Tech Stocks That Could Go Parabolic

About Okta

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.