Okta (NASDAQ:OKTA) Price Target Raised to $115.00 at Royal Bank Of Canada

Okta (NASDAQ:OKTA) had its target price upped by Royal Bank Of Canada from $113.00 to $115.00 in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Arete Research raised shares of Okta to a “strong sell” rating and set a $83.00 price objective for the company in a report on Monday, July 7th. Jefferies Financial Group lifted their price objective on Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday. BTIG Research restated a “buy” rating on shares of Okta in a report on Thursday, May 22nd. Truist Financial upgraded shares of Okta from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $125.00 in a research report on Monday. Finally, Guggenheim reissued a “buy” rating and issued a $138.00 price objective on shares of Okta in a research report on Monday, August 18th. Twenty-two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.25.

Okta Trading Up 1.6%

Shares of OKTA opened at $93.03 on Wednesday. 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 has a 1 year low of $70.56 and a 1 year high of $127.57. The company has a 50 day simple moving average of $95.20 and a two-hundred day simple moving average of $102.32. The firm has a market cap of $16.29 billion, a P/E ratio of 109.45, a price-to-earnings-growth ratio of 4.43 and a beta of 0.80.

Okta (NASDAQ:OKTA) last released its 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. The firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.35%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities analysts expect that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 31,592 shares of Okta 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 transaction, the chief executive officer directly owned 20,682 shares in the company, valued at approximately $1,970,994.60. This trade represents a 60.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the transaction, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Several hedge funds have recently modified their holdings of OKTA. TD Private Client Wealth LLC grew its position in shares of Okta by 19.6% in the 1st quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock worth $59,000 after buying an additional 92 shares during the last quarter. Allworth Financial LP lifted its position in Okta by 5.7% during the first quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after acquiring an additional 92 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Okta by 12.6% in the first quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock valued at $89,000 after acquiring an additional 92 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Okta by 7.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock valued at $156,000 after acquiring an additional 100 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Okta by 18.9% in the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company’s stock worth $71,000 after purchasing an additional 108 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.