Mizuho Has Lowered Expectations for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its target price decreased by Mizuho from $120.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 35.75% from the stock’s previous close.

A number of other analysts have also commented on the stock. BMO Capital Markets decreased their target price on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a 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, September 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Okta in a research note on Friday, September 26th. Citigroup reissued a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Finally, Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Twenty-three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and an average price target of $117.33.

Okta Stock Down 0.0%

Shares of NASDAQ OKTA opened at $81.03 on Monday. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 95.33, a PEG ratio of 3.98 and a beta of 0.84. The stock’s fifty day simple moving average is $89.33 and its 200 day simple moving average is $96.98. Okta has a 52-week low of $71.84 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last announced its 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 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. During the same period in the prior year, the business posted $0.72 earnings per share. Okta’s 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. As a group, analysts anticipate that Okta will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total value of $221,069.30. Following the completion of the sale, the insider directly owned 9,174 shares of the company’s stock, valued at $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $2,951,605.44. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,975 shares of company stock worth $6,011,126 in the last quarter. Corporate insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of large investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new position in Okta during the second quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in shares of Okta during the 3rd quarter valued at about $26,000. Harbour Investments Inc. raised its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares in the last quarter. Promus Capital LLC acquired a new stake in Okta in the 2nd quarter worth approximately $27,000. Finally, Kiker Wealth Management LLC lifted its holdings in Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after purchasing an additional 313 shares during the last quarter. 86.64% of the stock is currently owned by 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.