Okta, Inc. (NASDAQ:OKTA) Given Average Rating of “Moderate Buy” by Analysts

Okta, Inc. (NASDAQ:OKTA) has been assigned a consensus rating of “Moderate Buy” from the thirty-nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $112.5588.

A number of equities analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $138.00 price target on shares of Okta in a report on Wednesday, December 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Okta in a report on Monday, December 1st. JPMorgan Chase & Co. reduced their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Mizuho decreased their price target on Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Susquehanna dropped their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd.

Okta Trading Down 5.5%

Shares of OKTA stock opened at $82.46 on Wednesday. The stock has a 50 day simple moving average of $88.76 and a 200-day simple moving average of $88.88. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 75.65, a price-to-earnings-growth ratio of 3.48 and a beta of 0.77. Okta has a 12-month low of $75.05 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business 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. On average, equities analysts forecast that Okta will post 0.42 earnings per share for the current fiscal year.

Okta announced that its Board of Directors has approved a share buyback plan on Monday, January 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 1,899 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total transaction of $172,315.26. Following the transaction, the insider directly owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Okta

Institutional investors have recently made changes to their positions in the stock. Freestone Grove Partners LP lifted its position in shares of Okta by 187.4% in the fourth quarter. Freestone Grove Partners LP now owns 847,024 shares of the company’s stock valued at $73,242,000 after acquiring an additional 552,324 shares in the last quarter. Guggenheim Capital LLC raised its stake in Okta by 23.3% in the 4th quarter. Guggenheim Capital LLC now owns 27,875 shares of the company’s stock valued at $2,410,000 after purchasing an additional 5,259 shares during the last quarter. Nexpoint Asset Management L.P. purchased a new position in Okta in the 4th quarter valued at about $1,743,000. EFG International AG acquired a new stake in shares of Okta during the 4th quarter worth about $61,000. Finally, Jain Global LLC purchased a new stake in shares of Okta during the fourth quarter worth about $6,035,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Company Profile

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.