Scotiabank Forecasts Strong Price Appreciation for Okta (NASDAQ:OKTA) Stock

Okta (NASDAQ:OKTA) had its price objective lifted by stock analysts at Scotiabank from $165.00 to $190.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential downside of 1.56% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Oppenheimer upped their price target on Okta from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. TD Cowen increased their price target on shares of Okta from $160.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, August 27th. Jefferies Financial Group lifted their price objective on shares of Okta from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. DA Davidson boosted their price objective on shares of Okta from $165.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Company upped their target price on shares of Okta from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.61.

Okta Stock Performance

NASDAQ:OKTA traded up $1.69 on Tuesday, hitting $193.02. 820,346 shares of the stock were exchanged, compared to its average volume of 3,582,168. Okta has a 52 week low of $62.66 and a 52 week high of $193.18. The stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of 115.87, a P/E/G ratio of 5.67 and a beta of 0.79. The company’s 50-day moving average price is $154.59 and its 200 day moving average price is $116.61.

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, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. 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 research analysts predict that Okta will post 1.92 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, CEO Todd McKinnon sold 68,936 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. The trade was a 64.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 2,549 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $168.55, for a total transaction of $429,633.95. Following the completion of the transaction, the insider directly owned 17,069 shares of the company’s stock, valued at approximately $2,876,979.95. The trade was a 12.99% decrease in their position. 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. Insiders sold a total of 151,485 shares of company stock valued at $23,414,433 over the last quarter. 4.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after acquiring an additional 57,605 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after buying an additional 550,328 shares during the last quarter. Norges Bank purchased a new stake in shares of Okta during the fourth quarter valued at approximately $175,193,000. Finally, Swedbank AB grew its position in shares of Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after acquiring an additional 397,507 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Higher analyst targets reinforce the bullish case. Needham raised its price target to $230 from $200 and maintained a Buy rating, citing traction in AI-agent security and expectations that Okta can eventually bill for AI-agent access. Robert W. Baird also lifted its target to $200 from $185 and kept an Outperform rating. Needham price-target article
• Positive Sentiment: AI security is emerging as Okta’s central growth narrative. Analysts expect the company to use Oktane 2026 and its investor day to demonstrate how identity controls for autonomous AI agents could expand its addressable market beyond traditional workforce and customer identity products. Okta AI security and Needham article
• Positive Sentiment: Partner activity supports Okta’s ecosystem strategy. Aembit announced support for Okta’s Cross App Access protocol, which enables enterprise identities to authorize AI-agent access across applications without repeated consent steps. Separately, the Blueprint Alliance is working on shared architecture for securing AI agents, highlighting the industry’s need for identity governance. Aembit Okta support article
• Neutral Sentiment: Fundamentals provide support, but the market is pricing in substantial success. Okta recently exceeded quarterly earnings and revenue expectations, while revenue grew 10.6% year over year. However, its elevated valuation and strong run-up mean investors may demand convincing evidence that AI products will accelerate growth rather than simply improve the existing offering. Okta valuation and AI payoff article
• Negative Sentiment: Execution and valuation risks remain. Commentary notes that Okta and other cybersecurity leaders trade at sizable premiums despite the AI revenue opportunity still being unproven. Any disappointing investor-day outlook, slower adoption, or limited evidence of monetization could trigger profit-taking.

Okta Company Profile

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.