Okta, Inc. (NASDAQ:OKTA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Okta, Inc. (NASDAQ:OKTA) has received a consensus recommendation of “Moderate Buy” from the thirty-nine analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $113.6176.

Several brokerages have issued reports on OKTA. Deutsche Bank Aktiengesellschaft dropped their price objective on Okta from $110.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, December 3rd. Royal Bank Of Canada dropped their price target on Okta from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 3rd. Scotiabank reduced their price objective on Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 3rd. The Goldman Sachs Group decreased their price objective on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, December 3rd.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 1,318 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $85.71, for a total transaction of $112,965.78. Following the transaction, the insider owned 35,201 shares of the company’s stock, valued at $3,017,077.71. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,147 shares of company stock valued at $3,310,275. Company insiders own 5.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta during the second quarter worth approximately $26,000. Promus Capital LLC acquired a new position in Okta in the 2nd quarter valued at $27,000. Root Financial Partners LLC purchased a new position in Okta during the 3rd quarter worth $26,000. Cullen Frost Bankers Inc. raised its position in Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the last quarter. Finally, Kiker Wealth Management LLC lifted 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 worth $34,000 after acquiring an additional 313 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Down 0.6%

Shares of OKTA opened at $88.08 on Tuesday. The stock has a 50 day moving average price of $86.18 and a 200 day moving average price of $91.07. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 80.81, a price-to-earnings-growth ratio of 4.18 and a beta of 0.78. Okta has a 52-week low of $75.05 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. 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 anticipate that Okta will post 0.42 EPS for the current fiscal year.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.