Okta (NASDAQ:OKTA) Receives Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Okta (NASDAQ:OKTA) in a research report report published on Wednesday morning,Benzinga reports.

A number of other brokerages have also commented on OKTA. Wells Fargo & Company upped 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. Guggenheim reiterated a “buy” rating and set a $138.00 price target on shares of Okta in a report on Monday, August 18th. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Westpark Capital reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada upped their price target on Okta from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday. 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.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.25.

Okta Stock Up 1.6%

OKTA opened at $93.03 on Wednesday. The business has a 50 day moving average price of $95.20 and a 200 day moving average price of $102.32. Okta has a twelve month low of $70.56 and a twelve month high of $127.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. 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 posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share 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 firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter 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. Research analysts forecast that Okta will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company’s stock in a transaction 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 sale, the insider directly owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer owned 132,288 shares in the company, 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 sold a total of 88,594 shares of company stock valued at $8,382,790 in the last ninety days. 5.68% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew 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 valued at $1,872,263,000 after acquiring an additional 935,364 shares during the period. First Trust Advisors LP grew its holdings in shares of Okta by 9.1% during the second 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Okta by 20.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,455,653 shares of the company’s stock worth $445,432,000 after purchasing an additional 755,709 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Okta by 11.1% during the second quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock worth $314,488,000 after purchasing an additional 314,525 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 purchasing an additional 1,189,222 shares during the last quarter. 86.64% of the stock is currently owned by 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.