Okta (NASDAQ:OKTA) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of Okta (NASDAQ:OKTA) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $138.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Berenberg Bank initiated coverage on shares of Okta in a research note on Tuesday, November 18th. They set a “buy” rating and a $145.00 price target on the stock. Scotiabank dropped their price objective on Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a report on Wednesday. Zacks Research cut Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Citigroup lowered their price target on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.08.

Okta Trading Up 5.5%

Shares of NASDAQ:OKTA opened at $86.34 on Wednesday. The stock’s 50-day moving average price is $86.99 and its two-hundred day moving average price is $94.02. Okta has a 12-month low of $75.05 and a 12-month high of $127.57. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 79.21, a PEG ratio of 4.02 and a beta of 0.77.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.82%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, research analysts forecast that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at $12,666,920. This represents a 6.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 64,975 shares of company stock worth $6,011,126. Insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after buying an additional 135 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Okta by 15.6% in the third quarter. Swiss Life Asset Management Ltd now owns 18,131 shares of the company’s stock valued at $1,663,000 after purchasing an additional 2,443 shares during the last quarter. Cantor Fitzgerald L. P. grew its stake in Okta by 197.5% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 17,417 shares of the company’s stock valued at $1,597,000 after purchasing an additional 11,562 shares in the last quarter. Cambria Investment Management L.P. increased its holdings in Okta by 1.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 15,627 shares of the company’s stock worth $1,433,000 after purchasing an additional 228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Okta by 378.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 727 shares of the company’s stock worth $67,000 after purchasing an additional 575 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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.