Okta (NASDAQ:OKTA) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Okta (NASDAQ:OKTA) in a research report released on Wednesday,Benzinga reports. They currently have a $115.00 price target on the stock.

OKTA has been the topic of several other research reports. Mizuho lowered their target price on shares of Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. The Goldman Sachs Group reduced their target price on shares of Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank Of Canada reduced their price objective on Okta from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Okta from $110.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday. Twenty-three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus price target of $112.08.

Okta Trading Up 5.5%

NASDAQ:OKTA opened at $86.34 on Wednesday. The stock has a 50 day moving average of $86.99 and a two-hundred day moving average of $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 P/E ratio of 79.21, a price-to-earnings-growth ratio of 4.02 and a beta of 0.77.

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

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 8,522 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total value of $789,307.64. Following the transaction, the insider directly owned 9,174 shares in the company, valued at approximately $849,695.88. This represents a 48.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the sale, the executive owned 7,067 shares of the company’s stock, valued at $654,474.87. This trade represents a 46.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,975 shares of company stock valued at $6,011,126 over the last three months. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OKTA. Cetera Investment Advisers raised its stake in shares of Okta by 15.6% in the first quarter. Cetera Investment Advisers now owns 22,396 shares of the company’s stock valued at $2,357,000 after acquiring an additional 3,025 shares in the last quarter. Harbour Investments Inc. grew its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Commerce Bank increased its holdings in Okta by 18.7% during the 1st quarter. Commerce Bank now owns 4,434 shares of the company’s stock worth $467,000 after purchasing an additional 700 shares during the period. PNC Financial Services Group Inc. raised its position in Okta by 3.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,598 shares of the company’s stock valued at $694,000 after purchasing an additional 236 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in Okta in the 1st quarter valued at about $521,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.