DA Davidson Reiterates Buy Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research note issued on Friday,Benzinga reports. They currently have a $140.00 price objective on the stock. DA Davidson’s price objective points to a potential upside of 53.58% from the stock’s previous close.

Several other research analysts have also issued reports on OKTA. Robert W. Baird decreased their price target on shares of Okta from $148.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 27th. Citigroup restated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Okta in a research report on Wednesday, August 27th. BTIG Research restated a “buy” rating and issued a $142.00 price target on shares of Okta in a research report on Friday. Finally, BMO Capital Markets decreased their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.14.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $91.16 on Friday. Okta has a 12 month low of $70.92 and a 12 month high of $127.57. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 107.25, a PEG ratio of 4.47 and a beta of 0.83. The stock’s 50 day moving average price is $92.91 and its 200 day moving average price is $101.23.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts expect that Okta will post 0.42 EPS for the current year.

Insider Activity

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Larissa Schwartz sold 3,348 shares of Okta stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the transaction, the insider owned 39,155 shares in the company, valued at approximately $3,530,606.35. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,593 shares of company stock worth $12,598,168. 5.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently modified their holdings of OKTA. Two Sigma Advisers LP purchased a new position in shares of Okta during the 4th quarter valued at $985,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Okta during the 4th quarter valued at $8,680,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after acquiring an additional 4,171 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Okta by 68.8% during the 4th quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock valued at $2,683,000 after acquiring an additional 13,869 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Okta by 1,093.7% in the 1st quarter. Versant Capital Management Inc now owns 4,906 shares of the company’s stock valued at $516,000 after purchasing an additional 4,495 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other 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.