Okta (NASDAQ:OKTA) Price Target Lowered to $97.00 at Royal Bank Of Canada

Okta (NASDAQ:OKTA) had its price objective reduced by Royal Bank Of Canada from $115.00 to $97.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on OKTA. Roth Capital reaffirmed a “buy” rating on shares of Okta in a report on Wednesday. Jefferies Financial Group set a $90.00 target price on shares of Okta and gave the company a “hold” rating in a report on Tuesday, November 25th. DA Davidson reaffirmed a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Friday, September 26th. Zacks Research cut shares of Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 28th. Finally, Stifel Nicolaus decreased their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday. Twenty-three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.08.

Okta Trading Up 5.5%

Shares of OKTA stock opened at $86.34 on Wednesday. The company has a market cap of $15.12 billion, a P/E ratio of 79.21, a PEG ratio of 4.02 and a beta of 0.77. The firm has a fifty day moving average price of $86.99 and a 200 day moving average price of $94.02. Okta has a 12 month low of $75.05 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping 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 return on equity of 3.82% and a net margin of 6.87%.Okta’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $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. On average, equities analysts forecast that Okta will post 0.42 EPS for the current year.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 8,522 shares of the firm’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 completion of the sale, the insider directly owned 9,174 shares of the company’s stock, valued at $849,695.88. This represents a 48.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,975 shares of company stock worth $6,011,126 over the last quarter. 5.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in shares of Okta by 15.6% in the 1st quarter. Cetera Investment Advisers now owns 22,396 shares of the company’s stock worth $2,357,000 after buying an additional 3,025 shares in the last quarter. Harbour Investments Inc. increased its holdings in 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. Commerce Bank raised its position in Okta by 18.7% during the first quarter. Commerce Bank now owns 4,434 shares of the company’s stock worth $467,000 after acquiring an additional 700 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Okta by 3.7% in the first 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 shares of Okta in the first quarter valued at approximately $521,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.