Okta (NASDAQ:OKTA) Receives “Underperform” Rating from Bank of America

Bank of America reaffirmed their underperform rating on shares of Okta (NASDAQ:OKTA) in a research note published on Wednesday,Benzinga reports. They currently have a $75.00 price target on the stock.

Several other brokerages have also commented on OKTA. Stifel Nicolaus upped their price target on Okta from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Arete began coverage on Okta in a research note on Monday, July 7th. They issued a “sell” rating and a $83.00 price target on the stock. Wells Fargo & Company upped their price target on Okta from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 28th. Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Okta in a research note on Wednesday. Twenty-two investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.25.

Okta Stock Performance

NASDAQ OKTA opened at $93.03 on Wednesday. The stock’s fifty day moving average is $95.20 and its two-hundred day moving average is $102.32. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 EPS 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 business had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same quarter in the prior year, the company posted $0.72 EPS. The company’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, research analysts anticipate that Okta will post 0.42 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, insider Eric Robert Kelleher sold 16,018 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider owned 7,044 shares in the company, valued at $646,709.64. This represents a 69.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares in the company, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,594 shares of company stock worth $8,382,790 over the last quarter. 5.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Large investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC increased its holdings in 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 period. Pinnacle Bancorp Inc. purchased a new stake in Okta during the 2nd quarter worth about $26,000. Wayfinding Financial LLC purchased a new stake in Okta during the 1st quarter worth about $27,000. Harbour Investments Inc. increased its holdings in 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 period. Finally, Promus Capital LLC purchased a new stake in Okta during the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.