Okta (NASDAQ:OKTA) Price Target Cut to $110.00 by Analysts at Morgan Stanley

Okta (NASDAQ:OKTA) had its target price decreased by Morgan Stanley from $123.00 to $110.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the stock.

OKTA has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday. Canaccord Genuity Group raised Okta from a “hold” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $120.00 in a report on Tuesday, August 26th. BTIG Research cut their target price on Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group set a $90.00 price objective on Okta and gave the company a “hold” rating in a report on Tuesday, November 25th. Twenty-three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.08.

Okta Stock Performance

Shares of OKTA stock opened at $86.34 on Wednesday. Okta has a 1 year low of $75.05 and a 1 year high of $127.57. The firm has a market capitalization of $15.12 billion, a PE ratio of 79.21, a price-to-earnings-growth ratio of 4.02 and a beta of 0.77. The stock has a fifty day moving average of $86.99 and a two-hundred day moving average of $94.02.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.82% and a net margin of 6.87%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities research analysts predict that Okta will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the transaction, the executive owned 7,067 shares of the company’s stock, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares in the company, valued at approximately $12,666,920. The trade was a 6.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 64,975 shares of company stock worth $6,011,126. Corporate insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in Okta in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of Okta during the 3rd quarter valued at $26,000. Harbour Investments Inc. grew its holdings in shares of Okta by 152.4% during 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 position in Okta in the 2nd quarter worth about $27,000. Finally, Kiker Wealth Management LLC grew its stake in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. 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.