Okta, Inc. (NASDAQ:OKTA) Stock Has Consensus Price Target of $200.72 According to Analysts

by · The Cerbat Gem

Shares of Okta, Inc. (NASDAQ:OKTA – Get Free Report) have earned an average rating of “Moderate Buy” from the forty-three analysts that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $200.72.

A number of research analysts have weighed in on the stock. Mizuho raised their target price on shares of Okta from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, September 24th. BMO Capital Markets upped their price target on Okta from $187.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Stifel Nicolaus increased their price target on Okta from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 24th. DA Davidson lifted their price objective on Okta from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Finally, Wells Fargo & Company lifted their price objective on Okta from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th.

Read Our Latest Analysis on Okta

Okta Stock Up 3.2%

Okta stock opened at $218.29 on Thursday. The company has a fifty day simple moving average of $167.01 and a 200-day simple moving average of $125.59. The firm has a market capitalization of $38.16 billion, a price-to-earnings ratio of 131.50, a PEG ratio of 6.58 and a beta of 0.73. Okta has a 52-week low of $62.66 and a 52-week high of $219.68.

Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, research analysts anticipate that Okta will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 41,251 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. The trade was a 84.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the sale, the chief executive officer directly owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This represents a 52.58% 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. Insiders sold 206,702 shares of company stock valued at $34,034,508 in the last three months. 4.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently bought and sold shares of OKTA. Norges Bank purchased a new stake in shares of Okta in the 4th quarter valued at $175,193,000. Allspring Global Investments Holdings LLC boosted its holdings in Okta by 71.9% during the 1st 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. Pictet Asset Management Holding SA boosted its holdings in Okta by 28.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after acquiring an additional 550,328 shares during the period. Quantinno Capital Management LP grew its position in Okta by 114.3% in the 1st quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after acquiring an additional 397,951 shares in the last quarter. Finally, Swedbank AB grew its position in Okta by 21.9% in the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after acquiring an additional 397,507 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

About Okta

(Get Free Report)

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.

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