Okta (NASDAQ:OKTA) Price Target Cut to $112.00 by Analysts at BMO Capital Markets

Okta (NASDAQ:OKTA) had its price objective decreased by BMO Capital Markets from $132.00 to $112.00 in a research report report published on Wednesday, MarketBeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.

OKTA has been the subject of several other research reports. Evercore ISI raised their price target on shares of Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Stifel Nicolaus increased their price objective on shares of Okta from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Barclays cut their price target on shares of Okta from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, Royal Bank Of Canada decreased their price target on Okta from $143.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 28th. Twenty-two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.25.

Okta Stock Up 1.6%

Shares of OKTA opened at $93.03 on Wednesday. The stock’s 50-day moving average price is $95.20 and its two-hundred day moving average price is $102.32. Okta has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a market capitalization of $16.29 billion, a PE ratio of 109.45, a PEG ratio of 4.43 and a beta of 0.80. 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 issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.35% and a net margin of 6.08%.The company had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, analysts anticipate that Okta will post 0.42 EPS for the current year.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were 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 of the company’s stock, valued at approximately $706,700. This represents a 56.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 16,018 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the completion of the transaction, the insider owned 7,044 shares in the company, valued at $646,709.64. The trade was a 69.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,594 shares of company stock valued at $8,382,790. Corporate insiders own 5.68% of the company’s stock.

Institutional Trading of Okta

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Okta by 5.3% in the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after purchasing an additional 935,364 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Okta by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after purchasing an additional 407,087 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Okta by 20.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock worth $445,432,000 after buying an additional 755,709 shares during the last quarter. Geode Capital Management LLC grew its position in Okta by 11.1% during the second quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after buying an additional 314,525 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Okta by 76.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after buying an additional 1,189,222 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Company Profile

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.