Okta (NASDAQ:OKTA) Price Target Raised to $165.00

Okta (NASDAQ:OKTA) had its price target increased by Citigroup from $105.00 to $165.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on OKTA. Cantor Fitzgerald boosted their target price on shares of Okta from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday. Citizens Jmp lifted their price target on shares of Okta from $170.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Thursday. Raymond James Financial lifted their price target on shares of Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer upped their price objective on shares of Okta from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Susquehanna raised their target price on Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.92.

Okta Stock Performance

OKTA stock opened at $166.23 on Thursday. Okta has a 1 year low of $62.66 and a 1 year high of $174.85. The firm has a market cap of $28.89 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 5.94 and a beta of 0.77. The stock has a 50-day simple moving average of $141.34 and a 200-day simple moving average of $105.53.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities research analysts predict that Okta will post 1.77 EPS for the current year.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 68,936 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This represents a 64.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the transaction, the insider owned 25,241 shares in the company, valued at $3,028,920. This trade represents a 8.89% 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 have sold a total of 165,347 shares of company stock valued at $21,827,342 over the last 90 days. Insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OKTA. 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 worth $27,000 after buying an additional 77 shares during the last quarter. CX Institutional boosted its holdings in shares of Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company’s stock worth $359,000 after buying an additional 127 shares during the period. EverSource Wealth Advisors LLC grew its stake in Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock valued at $105,000 after buying an additional 129 shares during the last quarter. SteelPeak Wealth LLC grew its stake in Okta by 2.8% in the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after buying an additional 140 shares during the last quarter. Finally, Utah Retirement Systems grew its stake in Okta by 0.6% in the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after buying an additional 163 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta News Summary

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

About Okta

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.