Okta (NASDAQ:OKTA) Price Target Raised to $230.00

Okta (NASDAQ:OKTA) had its price objective hoisted by Royal Bank Of Canada from $195.00 to $230.00 in a report issued on Thursday morning, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC raised their price target on shares of Okta from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Wells Fargo & Company upped their price objective on Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective (up from $165.00) on shares of Okta in a research report on Thursday, August 27th. DA Davidson raised their target price on Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Capital One Financial set a $171.00 target price on Okta and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.41.

Okta Trading Down 5.5%

Shares of OKTA opened at $195.19 on Thursday. Okta has a 12-month low of $62.66 and a 12-month high of $212.50. The firm has a 50-day moving average price of $158.62 and a 200 day moving average price of $119.79. The firm has a market capitalization of $34.12 billion, a P/E ratio of 117.59, a P/E/G ratio of 6.07 and a beta of 0.79.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $793.00 million. During the same period last year, the business earned $0.91 earnings per share. 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 research analysts predict that Okta will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 41,251 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the sale, the chief financial officer owned 7,693 shares of the company’s stock, valued at $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the transaction, the insider owned 18,668 shares in the company, valued at $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 206,702 shares of company stock valued at $34,034,508. Company insiders own 4.61% of the company’s stock.

Hedge Funds Weigh In On Okta

Hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its holdings 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 during the period. MassMutual Private Wealth & Trust FSB increased its stake in Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock worth $40,000 after purchasing an additional 218 shares during the period. SHP Wealth Management purchased a new stake in Okta during the fourth quarter worth about $27,000. Assetmark Inc. lifted its position in shares of Okta by 81.1% during the first quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after purchasing an additional 322 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Okta by 1,265.5% in the first quarter. SJS Investment Consulting Inc. now owns 751 shares of the company’s stock valued at $59,000 after purchasing an additional 696 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: AI-agent opportunity strengthens the growth story. Okta unveiled Agent SSO, runtime enforcement, an AI-agent gateway, lifecycle-management tools and an “AI kill switch.” The products are designed to secure and govern enterprise AI agents, potentially expanding Okta’s market beyond traditional identity software. BofA raises Okta price target on AI-agent positioning
• Positive Sentiment: Analyst support remains strong. BofA raised its price target to $220, while RBC, Wells Fargo, DA Davidson, Guggenheim and BMO also issued higher targets, generally citing Okta’s positioning in AI identity and the possibility of renewed growth. Analysts issue bullish signals on Okta
• Neutral Sentiment: Recent earnings were solid but not a new catalyst. Okta’s latest quarterly earnings and revenue exceeded consensus estimates, with revenue up 10.6% year over year. However, the conference did not include a major financial update, leaving investors without clear evidence of when AI-agent products will materially accelerate results.
• Negative Sentiment: Sell-the-news and valuation concerns are pressuring the stock. Okta’s shares had climbed sharply and were near recent highs, making them vulnerable to profit-taking. Mizuho retained a Neutral view pending proof that growth can sustainably reaccelerate, while Jefferies identified customer confusion as an adoption hurdle. The elevated valuation also leaves limited room for execution disappointments. Mizuho remains neutral on Okta
• Negative Sentiment: Insider selling adds a modest overhang. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The sale occurred under a pre-arranged Rule 10b5-1 plan, which reduces its significance but may still weigh on sentiment. SEC filing for Todd McKinnon stock sale

About Okta

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.