Okta (NASDAQ:OKTA) Price Target Cut to $100.00 by Analysts at Mizuho

Okta (NASDAQ:OKTA) had its price objective trimmed by Mizuho from $110.00 to $100.00 in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also issued reports on OKTA. UBS Group reaffirmed a “buy” rating on shares of Okta in a research report on Thursday, December 4th. BMO Capital Markets lowered their price objective on Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, December 3rd. Morgan Stanley cut their price objective on Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Piper Sandler increased their target price on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Finally, Susquehanna dropped their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Twenty-five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

Okta Stock Down 5.5%

Shares of NASDAQ:OKTA opened at $82.46 on Tuesday. The company’s 50 day moving average price is $88.76 and its two-hundred day moving average price is $88.88. Okta has a 12-month low of $75.05 and a 12-month high of $127.57. The firm has a market cap of $14.61 billion, a PE ratio of 75.65, a PEG ratio of 3.48 and a beta of 0.77.

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

Okta declared that its board has authorized a stock buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 11,286 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Robert Kelleher sold 8,370 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $90.19, for a total transaction of $754,890.30. Following the completion of the transaction, the insider directly owned 11,266 shares in the company, valued at approximately $1,016,080.54. The trade was a 42.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 37,245 shares of company stock valued at $3,385,624 over the last ninety days. 5.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.