Okta’s (OKTA) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Okta (NASDAQ:OKTA) in a report published on Wednesday,Benzinga reports. The firm currently has a $125.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Stephens restated an “equal weight” rating and issued a $127.00 price objective on shares of Okta in a research note on Tuesday, May 27th. Evercore ISI increased their price target on shares of Okta from $122.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, May 28th. Citigroup restated a “market perform” rating on shares of Okta in a report on Wednesday. Royal Bank Of Canada cut their price objective on shares of Okta from $143.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group increased their target price on shares of Okta from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.25.

Okta Stock Up 1.6%

OKTA opened at $93.03 on Wednesday. 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. 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 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.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.35%. Okta’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company 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. Research analysts forecast that Okta will post 0.42 EPS for the current year.

Insider Transactions at Okta

In other Okta news, 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 transaction, the chief financial officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.00, for a total value of $900,000.00. Following the sale, the executive owned 7,067 shares in the company, valued at $706,700. The trade was a 56.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,594 shares of company stock worth $8,382,790. 5.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its stake in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in Okta in the second quarter worth about $26,000. Wayfinding Financial LLC bought a new stake in Okta during the 1st quarter worth about $27,000. Harbour Investments Inc. lifted its position in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares during the period. Finally, Promus Capital LLC bought a new position in shares of Okta in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds 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.