Royal Bank Of Canada Reiterates Outperform Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a report issued on Friday,Benzinga reports. They currently have a $115.00 price objective on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 26.15% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group upped their price objective on Okta from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, August 27th. Arete assumed coverage on shares of Okta in a report on Monday, July 7th. They set a “sell” rating and a $83.00 price objective on the stock. Westpark Capital restated a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, August 27th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Finally, DA Davidson reissued a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.

Okta Stock Down 0.0%

OKTA opened at $91.16 on Friday. The company has a market capitalization of $15.96 billion, a PE ratio of 107.25, a price-to-earnings-growth ratio of 4.47 and a beta of 0.83. The firm has a 50-day simple moving average of $92.91 and a two-hundred day simple moving average of $101.23. Okta has a 52 week low of $70.92 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business 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. As a group, sell-side analysts expect that Okta will post 0.42 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 3,348 shares of the company’s stock in a transaction 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 sale, the insider directly owned 39,155 shares of the company’s stock, valued at $3,530,606.35. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,593 shares of company stock worth $12,598,168 in the last three months. 5.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OKTA. Texas Permanent School Fund Corp acquired a new stake in shares of Okta in the second quarter valued at approximately $4,154,000. American Trust acquired a new stake in shares of Okta in the 2nd quarter worth $489,000. Centaurus Financial Inc. purchased a new position in shares of Okta during the 2nd quarter worth $132,000. Thrivent Financial for Lutherans boosted its position in shares of Okta by 298.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 50,503 shares of the company’s stock valued at $5,049,000 after acquiring an additional 37,820 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Okta in the second quarter valued at about $27,000. 86.64% of the stock is 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.