Brokerages Set Okta, Inc. (NASDAQ:OKTA) Price Target at $112.56

Shares of Okta, Inc. (NASDAQ:OKTA) have received an average recommendation of “Moderate Buy” from the thirty-nine brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $112.5588.

Several research firms have recently weighed in on OKTA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. KeyCorp cut their price target on shares of Okta from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus reduced their price target on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Guggenheim restated a “buy” rating and set a $138.00 price objective on shares of Okta in a report on Wednesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Okta in a research report on Friday, December 12th.

Okta Stock Down 9.2%

Shares of OKTA stock opened at $74.29 on Wednesday. Okta has a 12-month low of $73.74 and a 12-month high of $127.57. The firm has a fifty day moving average of $88.12 and a 200-day moving average of $88.51. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 68.16, a price-to-earnings-growth ratio of 2.98 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. During the same period in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Research analysts expect that Okta will post 0.42 earnings per share for the current year.

Okta announced that its board has initiated a stock buyback plan on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,409 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $84.40, for a total value of $203,319.60. Following the sale, the insider owned 11,266 shares in the company, valued at approximately $950,850.40. The trade was a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.96, for a total value of $1,026,574.56. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 37,245 shares of company stock valued at $3,385,624. 5.68% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new position in Okta in the third quarter valued at $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Promus Capital LLC acquired a new stake in shares of Okta in the second quarter valued at about $27,000. Torren Management LLC bought a new stake in Okta during the fourth quarter worth about $32,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

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.