KeyCorp Has Lowered Expectations for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its price objective cut by KeyCorp from $115.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 23.89% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Citigroup reaffirmed a “neutral” rating on shares of Okta in a research note on Monday, January 12th. Morgan Stanley reduced their target price on Okta from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday. BMO Capital Markets lowered their price target on Okta from $90.00 to $83.00 and set a “market perform” rating on the stock in a research note on Thursday, February 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Okta in a research report on Monday, December 1st. Finally, Mizuho reduced their price objective on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.25.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $80.72 on Thursday. The business’s 50 day moving average price is $85.06 and its 200-day moving average price is $87.38. Okta has a 1 year low of $68.77 and a 1 year high of $127.57. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 3.08 and a beta of 0.79.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, sell-side analysts expect that Okta will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has approved a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the sale, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This trade represents a 6.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 2,409 shares of Okta stock in a transaction 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 transaction, the insider owned 11,266 shares in the company, valued at approximately $950,850.40. This represents a 17.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,927 shares of company stock valued at $3,272,658 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in shares of Okta in the 3rd quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its position in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the period. Promus Capital LLC purchased a new stake in shares of Okta during the 2nd quarter valued at approximately $27,000. SHP Wealth Management acquired a new position in Okta in the fourth quarter valued at approximately $27,000. Finally, Torren Management LLC acquired a new position in Okta in the fourth quarter valued at approximately $32,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 results beat and signs of enterprise traction — Okta reported stronger-than-expected Q4 revenue and EPS (revenue ~$761M, EPS $0.90) with cRPO/contract metrics up, which underpins the near-term rally. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: AI‑agent product traction — Management said AI‑related products (e.g., Auth0 for AI Agents / Okta for AI Agents) contributed meaningfully to Q4 bookings and the company exceeded $3B in ACV, giving a credible growth narrative tied to securing non‑human identities. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Positive Sentiment: Analyst upgrades and bullish notes — Multiple brokers reiterated or upgraded coverage after the print (BMO upgraded to Outperform with a $97 PT; JPMorgan raised its PT slightly; Jefferies/DA Davidson remain constructive), which supports near‑term upside. BMO Capital Upgrades Okta to Outperform
• Neutral Sentiment: Mixed analyst positioning — while some firms kept or raised price targets, many others trimmed targets on a mix of valuation and near‑term growth concerns; consensus views show upside but with varied conviction. Okta To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Friday
• Neutral Sentiment: Equity plan / shelf filing announced — Okta filed a $763M shelf tied to an ESOP equity offering; routine for employee programs but worth noting for potential future supply. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Negative Sentiment: Cautious FY‑2027 guidance and Q1 outlook — management’s FY‑27 and Q1 guidance implied a near‑term revenue deceleration (Q1 revenue guide slightly below Street estimates), which tempers the rally and keeps longer‑term growth questions alive. Okta’s Q4 results surpass estimates, but guidance appears mixed
• Negative Sentiment: Competition and execution questions on the AI agent opportunity — analysts warn that the AI‑agent TAM is attractive but unproven; large cloud players and security vendors are building competing solutions, making monetization and sustained re‑acceleration uncertain. Okta: Bigger Deals And Renewed Growth, Thanks To Agentic AI
• Negative Sentiment: Analyst price‑target cuts — several brokers trimmed targets post‑earnings despite positive notes, signaling caution on valuation and the company’s ability to reaccelerate growth. Benzinga Coverage of Price Target Changes

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.