Needham & Company LLC Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

29 May 2026, 08:06 by Amy Steele · The Cerbat Gem

Okta (NASDAQ:OKTA – Get Free Report) had its price objective raised by equities researchers at Needham & Company LLC from $90.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 26.69% from the stock’s current price.

Several other research analysts also recently commented on OKTA. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $134.00 price target on shares of Okta in a research report on Friday, March 6th. Stifel Nicolaus dropped their price target on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company lifted their price target on Okta from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Truist Financial dropped their price target on Okta from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.85.

Get Our Latest Analysis on OKTA

Okta Stock Up 5.8%

Shares of NASDAQ OKTA opened at $94.72 on Friday. The business’s 50 day moving average is $79.01 and its two-hundred day moving average is $82.69. The company has a market cap of $16.76 billion, a P/E ratio of 72.31, a P/E/G ratio of 3.49 and a beta of 0.59. Okta has a 12 month low of $62.66 and a 12 month high of $107.84.

Okta (NASDAQ:OKTA – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts expect that Okta will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 2,409 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider directly owned 15,470 shares in the company, valued at approximately $1,237,600. This represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shellye L. Archambeau sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares in the company, valued at approximately $781,320. This represents a 21.38% decrease in their ownership of the stock. 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 90 days, insiders sold 70,884 shares of company stock worth $5,625,648. Insiders own 4.61% of the company’s stock.

Institutional Trading of Okta

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. First Trust Advisors LP grew its position 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 period. 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 valued at $281,209,000 after acquiring an additional 1,485,963 shares during the period. Geode Capital Management LLC grew its position in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after acquiring an additional 57,605 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Okta by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock valued at $215,776,000 after acquiring an additional 69,653 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

Positive Sentiment: Okta reported fiscal Q1 2027 results that beat estimates on both earnings and revenue, with EPS of $0.91 versus $0.85 expected and revenue of $765 million versus $751.8 million expected. The company also highlighted stronger operating performance and 11.2% year-over-year revenue growth. Okta earnings report
Positive Sentiment: Management issued guidance above consensus, including Q2 EPS guidance of $0.95 to $0.97 and FY 2027 EPS guidance of $3.79 to $3.87, signaling confidence in continued execution and margin improvement. Okta press release
Positive Sentiment: Analysts turned more constructive after the report, with JPMorgan raising its price target to $114, Citi lifting its target to $105, Robert W. Baird raising its target to $140, and William Blair reiterating a Buy rating on improving enterprise momentum and AI-driven growth potential. Citi target lift article
Positive Sentiment: Investors are also focused on Okta’s AI-agent identity management opportunity, which management said is creating additional demand for its security tools and could expand the company’s long-term growth runway. CNBC earnings article
Neutral Sentiment: Some commentary pointed to valuation as a reason for caution, with Citi keeping a Hold rating despite better execution, suggesting the stock may need continued fundamental progress to justify further upside. Citi hold/target article

Okta Company Profile

(Get Free Report)

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.