Okta (NASDAQ:OKTA) Price Target Cut to $142.00 by Analysts at Robert W. Baird

Okta (NASDAQ:OKTA) had its price target cut by Robert W. Baird from $148.00 to $142.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on OKTA. BTIG Research reiterated a “buy” rating on shares of Okta in a research note on Thursday, May 22nd. Evercore ISI boosted their price target on Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. Guggenheim reiterated a “buy” rating and issued a $138.00 price target on shares of Okta in a research note on Wednesday. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Finally, Westpark Capital reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus target price of $118.25.

Okta Trading Up 1.6%

Shares of OKTA opened at $93.03 on Wednesday. The stock’s 50-day moving average is $95.20 and its two-hundred day moving average is $102.32. The stock has a market cap of $16.29 billion, a PE ratio of 109.45, a P/E/G ratio of 4.43 and a beta of 0.80. Okta has a 12 month low of $70.56 and a 12 month high of $127.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping 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 business had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Equities analysts forecast that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.00, for a total transaction of $900,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,594 shares of company stock valued at $8,382,790 over the last three months. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

Several institutional investors have recently made changes to their positions in OKTA. Massachusetts Financial Services Co. MA grew its holdings in shares of Okta by 325.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company’s stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the last quarter. Norges Bank bought a new position in shares of Okta during the second quarter valued at approximately $211,923,000. Alkeon Capital Management LLC bought a new position in shares of Okta during the first quarter valued at approximately $199,918,000. Ameriprise Financial Inc. grew its holdings in shares of Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Okta during the first quarter valued at approximately $189,915,000. 86.64% of the stock is owned by 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.