Okta (NASDAQ:OKTA) Price Target Cut to $100.00 by Analysts at Jefferies Financial Group

Okta (NASDAQ:OKTA) had its price target trimmed by Jefferies Financial Group from $105.00 to $100.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently weighed in on OKTA. DA Davidson decreased their price target on Okta from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Loop Capital began coverage on Okta in a research note on Monday, May 5th. They issued a “buy” rating and a $140.00 price target for the company. Scotiabank boosted their price target on Okta from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. increased their price target on Okta from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Twenty research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $117.92.

Okta Stock Performance

Shares of OKTA opened at $89.78 on Thursday. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 142.51, a P/E/G ratio of 4.40 and a beta of 0.80. The business’s fifty day simple moving average is $95.73 and its two-hundred day simple moving average is $102.45. Okta has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%.The firm had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $680.14 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Okta has set its Q2 2026 guidance at 0.830-0.840 EPS. FY 2026 guidance at 3.230-3.280 EPS. Research analysts anticipate that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the completion of the sale, the executive directly owned 7,067 shares in the company, valued at $706,700. This represents a 56.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 31,592 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the sale, the chief executive officer owned 20,682 shares of the company’s stock, valued at $1,970,994.60. This trade represents a 60.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock worth $8,382,790 over the last three months. 5.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Okta in the 1st quarter worth $27,000. Harbour Investments Inc. increased its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta in the 2nd quarter worth $26,000. Finally, Rossby Financial LCC bought a new position in Okta in the 1st quarter worth $31,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.