BTIG Research Reiterates “Buy” Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research report issued on Friday,Benzinga reports. They presently have a $142.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 55.77% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Okta in a report on Wednesday, August 27th. Guggenheim reiterated a “buy” rating and set a $138.00 target price on shares of Okta in a report on Wednesday, August 27th. Canaccord Genuity Group upgraded Okta from a “hold” rating to a “buy” rating and increased their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Royal Bank Of Canada increased their target price on Okta from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Okta in a report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.14.

Okta Price Performance

OKTA opened at $91.16 on Friday. The stock has a market cap of $15.96 billion, a P/E ratio of 107.25, a P/E/G ratio of 4.47 and a beta of 0.83. The stock’s 50 day simple moving average is $92.91 and its 200 day simple moving average is $101.23. Okta has a 1-year low of $70.92 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Research analysts expect that Okta will post 0.42 EPS for the current fiscal year.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the 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 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,593 shares of company stock worth $12,598,168. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OKTA. Wolff Wiese Magana LLC raised its position in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after buying an additional 154 shares during the period. Pinnacle Bancorp Inc. purchased a new position in shares of Okta in the 2nd quarter worth $26,000. Wayfinding Financial LLC purchased a new position in shares of Okta in the 1st quarter worth $27,000. Harbour Investments Inc. raised its position in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares during the period. Finally, Promus Capital LLC purchased a new position in shares of Okta in the 2nd quarter worth $27,000. 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.