Okta (NASDAQ:OKTA) Price Target Raised to $190.00

Okta (NASDAQ:OKTA) had its price target lifted by Oppenheimer from $170.00 to $190.00 in a report issued on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Evercore reiterated an “outperform” rating and issued a $185.00 price objective on shares of Okta in a report on Thursday. Wells Fargo & Company raised Okta from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $180.00 in a report on Monday, August 17th. Raymond James Financial upped their target price on Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on Okta in a research note on Monday, July 6th. They set a “buy” rating for the company. Finally, DA Davidson lifted their price target on Okta from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.92.

Okta Stock Down 3.9%

OKTA stock opened at $166.23 on Thursday. The company has a market capitalization of $28.89 billion, a P/E ratio of 100.14, a PEG ratio of 5.94 and a beta of 0.77. The company has a 50-day simple moving average of $141.34 and a 200 day simple moving average of $105.53. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $174.85.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the firm posted $0.91 EPS. Okta’s revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities analysts anticipate that Okta will post 1.77 EPS for the current year.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction that occurred on 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 directly owned 25,241 shares in the company, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the transaction, the chief financial officer directly owned 119,680 shares in the company, valued at $14,032,480. This represents a 35.20% 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. Insiders have sold 165,347 shares of company stock valued at $21,827,342 over the last quarter. Company insiders own 4.61% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of institutional investors and hedge funds have recently modified their holdings of OKTA. California State Teachers Retirement System boosted its position in shares of Okta by 13,755.2% in the 2nd quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock valued at $4,949,942,000 after purchasing an additional 36,014,770 shares during the period. Norges Bank acquired a new stake in Okta during the 4th quarter worth about $175,193,000. Allspring Global Investments Holdings LLC raised its holdings in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after buying an additional 1,485,963 shares during the period. First Trust Advisors LP lifted its stake in Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Okta by 276.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after buying an additional 1,031,083 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Quarterly beat and raised outlook: Okta reported adjusted earnings of $1.05 per share versus the $0.96 consensus, while revenue increased 10.6% year over year to $805 million, ahead of the roughly $793 million estimate. Subscription revenue rose 12%, and management raised its fiscal 2027 revenue outlook to approximately $3.216 billion-$3.226 billion, or 10%-11% growth. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: AI is expanding the identity-security market: Analysts and company executives highlighted rising demand to secure AI agents and other nonhuman identities. Okta’s new Agent SSO product is designed to provide access controls, visibility and policy management for enterprise AI agents, potentially creating a new growth avenue as AI adoption accelerates. Okta Launches Agent SSO For Enterprise AI Access
• Positive Sentiment: Wall Street became more constructive: JPMorgan, Morgan Stanley, RBC, Oppenheimer, Truist, Needham and other firms raised price targets, with several targeting $190-$200 and maintaining buy or overweight ratings. Wells Fargo also upgraded the stock, citing signs that Okta’s growth strategy is improving. Okta Posts Q2 Beat, Analysts Raise Price Targets
• Neutral Sentiment: Technical momentum is strong: OKTA moved above its 20-day and 50-day moving averages and reached a multiyear high. This supports a bullish trading trend but also leaves the stock more exposed to profit-taking after its rapid advance. Okta Recently Broke Out Above the 20-Day Moving Average
• Negative Sentiment: Valuation and execution risks remain: With the stock near its 52-week high and trading at an elevated earnings multiple, the market is pricing in substantial future growth. Some analysts remain neutral, and commentary notes that AI security is still an early-stage opportunity rather than a major current revenue driver. Okta’s Buy Thesis Holds, But the Margin for Error Is Smaller
• Negative Sentiment: AI also creates new threats: The rapid growth of AI-generated identities and agents could increase demand for Okta’s products, but it also introduces additional attack surfaces and security-complexity concerns that the company must successfully address. Okta’s AI Boom Just Created a New Security Problem

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.