Okta (NASDAQ:OKTA) Raised to Hold at Wells Fargo & Company

Okta (NASDAQ:OKTA) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on OKTA. Roth Mkm reissued a “buy” rating on shares of Okta in a research report on Wednesday, December 3rd. TD Cowen cut their price target on Okta from $115.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, February 24th. Berenberg Bank started coverage on Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 price target on the stock. UBS Group reaffirmed a “buy” rating on shares of Okta in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Okta Stock Down 2.0%

Shares of NASDAQ OKTA opened at $72.52 on Monday. The firm has a 50-day moving average price of $85.73 and a 200 day moving average price of $87.62. Okta has a 52 week low of $68.77 and a 52 week high of $127.57. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 2.87 and a beta of 0.79.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping the consensus estimate 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 6.87% and a return on equity of 3.77%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. Equities research analysts expect that Okta will post 0.42 EPS for the current fiscal year.

Okta announced that its board has authorized a share buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the transaction, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 1,899 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the sale, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently added to or reduced their stakes in OKTA. Root Financial Partners LLC acquired a new stake in Okta during the third quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of Okta during the 2nd quarter worth approximately $27,000. Torren Management LLC bought a new stake in shares of Okta in the 4th quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Jefferies kept a Buy rating on OKTA even after trimming its price target to $105, which signals continued conviction from a major sell‑side shop despite the cut. Okta (NASDAQ:OKTA) Given New $105.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Robert W. Baird reiterated a Buy rating with a $125 target, highlighting bullish views around identity/security and AI tailwinds that could support upside. Okta: Strengthening Identity Security Amid AI Adoption
• Positive Sentiment: Okta will present at an investor conference — management access often tempers uncertainty ahead of earnings and can reinforce messaging on AI/security progress. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: The company is set to report Q4 results tomorrow (Mar. 4); previews expect steady revenue growth, rising RPO and AI‑security momentum but warn of macro and competitive pressures — this event is the near‑term catalyst. Dear Okta Stock Fans, Mark Your Calendars for March 4
• Neutral Sentiment: Media pieces discussing analyst ratings and whether to buy/hold/sell can amplify moves but provide limited new info; treat as sentiment drivers rather than fundamental changes. Wall Street Bulls Look Optimistic About Okta (OKTA)
• Negative Sentiment: Several firms cut price targets or set conservative ratings recently (Cantor Fitzgerald to $100, BTIG to $90, BMO trimmed its PT to $83 and kept Market Perform, Wells Fargo initiated at Equal Weight/$76) — the cluster of downward PT moves pressures sentiment and likely contributed to today’s decline. Cantor Fitzgerald Cuts Okta Price Target to $100 Benzinga Coverage BMO Capital Expects Solid Q1 Results
• Negative Sentiment: High-profile commentary questioned Okta’s differentiation in an AI era (Jim Cramer noted market skepticism that chatbots could displace some identity functions), which can stoke investor caution ahead of the report. Jim Cramer on Okta

Okta Company Profile

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.