Okta (NASDAQ:OKTA) Given New $110.00 Price Target at Susquehanna

by · The Cerbat Gem

Okta (NASDAQ:OKTA – Get Free Report) had its price objective hoisted by Susquehanna from $80.00 to $110.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential downside of 5.30% from the stock’s previous close.

A number of other research firms also recently commented on OKTA. Cantor Fitzgerald set a $125.00 price objective on shares of Okta in a report on Friday. Arete Research set a $127.00 price objective on Okta and gave the company a “buy” rating in a report on Tuesday. Citigroup reiterated an “outperform” rating on shares of Okta in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. boosted their price target on Okta from $103.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.97.

Read Our Latest Research Report on OKTA

Okta Stock Performance

Shares of Okta stock traded up $21.44 during trading on Friday, reaching $116.16. The company’s stock had a trading volume of 4,634,549 shares, compared to its average volume of 3,440,110. Okta has a one year low of $62.66 and a one year high of $117.96. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 3.49 and a beta of 0.59. The business’s fifty day moving average price is $79.01 and its 200-day moving average price is $82.69.

Okta (NASDAQ:OKTA – Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Okta’s revenue was up 11.2% compared to the same quarter last year. 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 anticipate that Okta will post 1.61 EPS for the current year.

Insiders Place Their Bets

In other Okta news, Director David Schellhase bought 3,712 shares of Okta stock in a transaction dated Thursday, April 16th. The shares were bought at an average price of $72.04 per share, with a total value of $267,412.48. Following the purchase, the director owned 3,712 shares of the company’s stock, valued at $267,412.48. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 11,263 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the sale, the chief executive officer directly owned 97,083 shares of the company’s stock, valued at approximately $7,864,693.83. This trade represents a 10.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 70,884 shares of company stock valued at $5,625,648 over the last 90 days. Corporate insiders own 4.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC grew its stake in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. SHP Wealth Management bought a new position in Okta during the fourth quarter worth about $27,000. Torren Management LLC acquired a new position in shares of Okta during the 4th quarter worth about $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Okta during the 3rd quarter worth about $34,000. Finally, Westside Investment Management Inc. increased its stake in shares of Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock valued at $38,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

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.

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.

Further Reading