Mizuho Has Lowered Expectations for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price target reduced by equities research analysts at Mizuho from $120.00 to $110.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 31.05% from the company’s previous close.

OKTA has been the subject of several other research reports. Barclays upped their price objective on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. Citigroup restated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, August 27th. BMO Capital Markets reduced their price objective on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Finally, BTIG Research restated a “buy” rating and issued a $142.00 price objective on shares of Okta in a report on Friday, September 26th. Twenty-two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.11.

Okta Price Performance

Shares of Okta stock opened at $83.94 on Monday. The company’s 50 day moving average price is $89.82 and its two-hundred day moving average price is $97.42. The firm has a market capitalization of $14.70 billion, a P/E ratio of 98.75, a P/E/G ratio of 4.12 and a beta of 0.84. Okta has a fifty-two week low of $71.84 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period in the prior year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, analysts expect that Okta will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In other Okta news, insider Eric Robert Kelleher sold 8,522 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.62, for a total value of $789,307.64. Following the completion of the sale, the insider directly owned 9,174 shares in the company, valued at approximately $849,695.88. The trade was a 48.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 133,336 shares in the company, valued at approximately $12,666,920. This trade represents a 6.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,975 shares of company stock worth $6,011,126 over the last three months. Insiders own 5.68% of the company’s stock.

Institutional Trading of Okta

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in Okta by 12.6% during the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock worth $89,000 after acquiring an additional 92 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Okta by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after purchasing an additional 113 shares during the period. Norden Group LLC boosted its position in shares of Okta by 3.7% during the 2nd quarter. Norden Group LLC now owns 3,260 shares of the company’s stock worth $326,000 after purchasing an additional 116 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Okta by 12.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock valued at $113,000 after buying an additional 120 shares during the period. Finally, Simon Quick Advisors LLC increased its position in Okta by 2.5% in the 2nd quarter. Simon Quick Advisors LLC now owns 5,110 shares of the company’s stock valued at $511,000 after buying an additional 126 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.