Okta (NASDAQ:OKTA) Receives Buy Rating from Westpark Capital

Westpark Capital reaffirmed their buy rating on shares of Okta (NASDAQ:OKTA) in a research note published on Wednesday morning,Benzinga reports. Westpark Capital currently has a $140.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Roth Capital reiterated a “buy” rating and set a $119.00 target price on shares of Okta in a research report on Wednesday, May 28th. The Goldman Sachs Group increased their target price on Okta from $123.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Evercore ISI raised their price objective on Okta from $122.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, May 28th. Stephens restated an “equal weight” rating and issued a $127.00 price objective on shares of Okta in a report on Tuesday, May 27th. Finally, Wells Fargo & Company lifted their price target on Okta from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 28th. Twenty-two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.25.

Okta Trading Up 1.6%

Shares of NASDAQ:OKTA opened at $93.03 on Wednesday. Okta has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market capitalization of $16.29 billion, a price-to-earnings ratio of 109.45, a price-to-earnings-growth ratio of 4.43 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The business’s 50 day moving average price is $95.20 and its 200-day moving average price is $102.32.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.35% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s 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, equities research analysts forecast that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.29, for a total value of $58,268.49. Following the sale, the director directly owned 2,832 shares of the company’s stock, valued at $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. Wolff Wiese Magana LLC increased its position in shares of Okta by 167.4% during 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 during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Okta during the 2nd quarter worth about $26,000. Wayfinding Financial LLC acquired a new stake in shares of Okta during the 1st quarter worth about $27,000. Harbour Investments Inc. increased its position in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in Okta in the 2nd quarter valued at about $27,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.