Okta (NASDAQ:OKTA) Price Target Raised to $180.00

Okta (NASDAQ:OKTA) had its price target upped by Barclays from $170.00 to $180.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company raised shares of Okta from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $180.00 in a research report on Monday, August 17th. Evercore reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Okta in a report on Thursday. Royal Bank Of Canada upped their price objective on Okta from $166.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen increased their price objective on Okta from $160.00 to $175.00 and gave the company a “hold” rating in a report on Thursday. Finally, Raymond James Financial raised their target price on Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.92.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $166.23 on Thursday. The company’s 50-day moving average is $141.34 and its 200 day moving average is $105.53. The company has a market capitalization 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. Okta has a fifty-two week low of $62.66 and a fifty-two week high of $174.85.

Okta (NASDAQ:OKTA) last posted 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. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. During the same quarter last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. 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, research analysts predict that Okta will post 1.77 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company’s stock, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the transaction, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This represents a 35.20% 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. In the last ninety days, insiders have sold 165,347 shares of company stock valued at $21,827,342. Corporate insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of Okta by 13,755.2% in the 2nd quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock worth $4,949,942,000 after buying an additional 36,014,770 shares during the last quarter. Norges Bank purchased a new position in Okta in the fourth quarter worth $175,193,000. Allspring Global Investments Holdings LLC grew its position in Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. First Trust Advisors LP increased its stake in Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Okta by 276.9% in 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 acquiring an additional 1,031,083 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

More Okta News

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

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.