Okta (NASDAQ:OKTA) Price Target Raised to $105.00 at Citigroup

Okta (NASDAQ:OKTA) had its price objective lifted by Citigroup from $87.00 to $105.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential downside of 14.84% from the company’s current price.

Several other research firms also recently weighed in on OKTA. Wall Street Zen downgraded Okta from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Mizuho increased their price target on Okta from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley increased their price target on Okta from $101.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank Of Canada increased their price target on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, KeyCorp increased their price objective on Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.26.

Okta Price Performance

Shares of NASDAQ:OKTA traded up $28.58 during trading on Friday, reaching $123.30. 10,157,693 shares of the stock were exchanged, compared to its average volume of 3,499,306. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 93.74, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. The stock has a fifty day moving average of $79.01 and a two-hundred day moving average of $82.69. Okta has a 1-year low of $62.66 and a 1-year high of $122.17.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts forecast that Okta will post 1.61 EPS for the current year.

Insider Transactions at Okta

In related news, Director David Schellhase purchased 3,712 shares of Okta stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the transaction, the director directly owned 3,712 shares in the company, valued at $267,412.48. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the sale, the executive owned 4,364 shares in the company, valued at approximately $339,475.56. This represents a 84.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 70,884 shares of company stock worth $5,625,648. 4.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Okta in the fourth quarter worth $175,193,000. Allspring Global Investments Holdings LLC boosted its stake in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares during the last quarter. First Trust Advisors LP boosted 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 during the last quarter. Vanguard Group Inc. boosted its stake in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position 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 purchasing an additional 1,031,083 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta beat Wall Street’s Q1 estimates, reporting $0.91 in adjusted EPS and $765 million in revenue, both above consensus. Okta Shares Climb After Strong Q1 Results, Forward Guidance
• Positive Sentiment: The company raised guidance for fiscal 2027, with next-quarter EPS outlook of $0.95-$0.97 and full-year EPS guidance of $3.79-$3.87, signaling confidence in continued growth. View Press Release
• Positive Sentiment: Multiple analysts lifted price targets after the report, including BTIG, Needham, JPMorgan, Morgan Stanley, RBC, Oppenheimer, and Berenberg, reinforcing the post-earnings rally. Okta Stock Surges After Surprising Q1 Results, FY27 Boost
• Positive Sentiment: Management highlighted stronger enterprise momentum and AI-related demand, which investors view as an emerging growth tailwind for identity tools. Okta tops first-quarter results on agentic AI demand

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.