Okta (NASDAQ:OKTA) Given New $190.00 Price Target at JPMorgan Chase & Co.

Okta (NASDAQ:OKTA) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $165.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 9.96% from the stock’s current price.

Several other research analysts have also issued reports on the stock. DA Davidson raised their price target on shares of Okta from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of Okta in a research report on Monday, July 6th. They set a “buy” rating for the company. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Okta in a research note on Friday, May 29th. Needham & Company LLC lifted their price objective on Okta from $140.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on Okta from $115.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.34.

Okta Stock Up 28.5%

Shares of NASDAQ OKTA traded up $38.37 during trading on Thursday, reaching $172.79. The company had a trading volume of 13,407,728 shares, compared to its average volume of 3,541,858. The stock has a market cap of $30.03 billion, a P/E ratio of 125.26, a PEG ratio of 4.70 and a beta of 0.77. The company’s fifty day moving average price is $139.27 and its 200-day moving average price is $104.50. Okta has a 12 month low of $62.66 and a 12 month high of $174.85.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities analysts predict that Okta will post 1.75 earnings per share for the current year.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the completion of the sale, the insider directly owned 23,477 shares in the company, valued at $3,148,970.01. This trade represents a 51.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the transaction, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 165,347 shares of company stock worth $21,827,342 over the last quarter. Company insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. lifted its stake in shares of Okta by 64.2% in the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after buying an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 acquiring an additional 218 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Okta during the fourth quarter worth about $27,000. Torren Management LLC acquired a new stake in shares of Okta in the 4th quarter worth about $32,000. Finally, EFG International AG acquired a new stake in shares of Okta in the 4th quarter worth about $61,000. Institutional investors own 86.64% of the company’s stock.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q2 results beat expectations: Okta reported revenue of $805 million, up 10.6% year over year and above the roughly $793 million consensus estimate. Adjusted earnings of $1.05 per share also exceeded expectations of $0.96. Subscription revenue increased 12%, while cash flow, backlog and bookings trends provided additional support. OKTA Q2 Earnings Beat on Subscription Growth, FY27 View Raised
• Positive Sentiment: Guidance was raised: Management now expects fiscal 2027 revenue of approximately $3.22 billion to $3.23 billion, compared with its prior forecast of $3.19 billion to $3.21 billion. Third-quarter revenue and EPS guidance also came in above analyst estimates, signaling better near-term execution. Okta Lifts Full-Year Outlook as AI Agents Spur Demand
• Positive Sentiment: Analyst sentiment improved: Several firms raised price targets following the report, including Morgan Stanley and Truist to $200, RBC to $195 and Oppenheimer to $190. Analysts cited stronger core identity demand, new annual contract value and the long-term opportunity in securing AI agents. Analysts see further upside as Okta stock hits YTD high on Q2 earnings
• Neutral Sentiment: AI opportunity is promising but early: Okta launched Agent SSO to manage access for enterprise AI agents and reduce dependence on risky static API keys. However, management indicated that AI security is not yet a major revenue contributor, making the opportunity more dependent on future adoption. Okta Launches Agent SSO For Enterprise AI Access
• Negative Sentiment: Valuation and execution risks remain: After the rally, Okta trades at a demanding valuation, while its roughly 10%–11% projected fiscal 2027 growth leaves less room for disappointing bookings, margins or AI monetization. Some commentary also flagged slower growth and weakness in a key bookings measure as risks.

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.