Okta (NASDAQ:OKTA) Upgraded at Zacks Research

Zacks Research upgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $120.00 target price on shares of Okta in a research note on Wednesday, December 3rd. Truist Financial dropped their target price on shares of Okta from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. DA Davidson set a $110.00 price objective on shares of Okta in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Okta in a report on Wednesday, December 17th. Finally, Morgan Stanley cut their price target on Okta from $123.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.57.

Okta Price Performance

NASDAQ:OKTA opened at $72.50 on Wednesday. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 66.51, a PEG ratio of 2.91 and a beta of 0.77. The business has a 50 day simple moving average of $86.40 and a 200-day simple moving average of $87.89. Okta has a 1 year low of $68.77 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $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. As a group, analysts expect that Okta will post 0.42 earnings per share for the current fiscal year.

Okta declared that its Board of Directors has authorized a share repurchase plan on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the completion of the transaction, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 37,245 shares of company stock worth $3,385,624. 5.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Norges Bank acquired a new stake in Okta during the 2nd quarter worth about $211,923,000. First Trust Advisors LP lifted its holdings in shares of Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Okta by 113.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after buying an additional 1,099,962 shares during the last quarter. Vanguard Group Inc. grew its holdings in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Okta by 276.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after acquiring an additional 1,031,083 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Zacks upgraded Okta to a “Strong Buy,” signaling growing optimism that its upcoming results could surprise positively and support a rally. Okta (OKTA) Upgraded to Strong Buy
• Positive Sentiment: Cantor Fitzgerald kept an Overweight rating even after trimming its price target, indicating some analysts still see meaningful upside if fundamentals stabilize. Cantor Fitzgerald price target note
• Neutral Sentiment: MarketBeat highlights Okta as one of the beaten-down SaaS names that could bounce if its next report reassures investors; the March earnings cadence is framed as the key near-term catalyst (can go either way). After a Brutal Selloff, Are These 3 SaaS Giants About to Bounce?
• Neutral Sentiment: Countdown/preview pieces (Yahoo/Zacks) urge investors to look beyond revenue and EPS for metrics such as customer retention, ARR trends, and margin drivers—items that will likely determine the stock’s direction after the report. Countdown to Okta (OKTA) Q4 Earnings
• Negative Sentiment: BMO trimmed its price target and lowered its rating to “market perform,” reflecting more cautious near-term expectations and adding downward pressure on sentiment. BMO price target cut
• Negative Sentiment: Broad sector fears that AI could compress SaaS pricing/usage (the so‑called “SaaSpocalypse”) continue to drive selling across names including Okta; if Okta’s results or guidance disappoint, the selloff could accelerate. 2 Tech Stocks That Could Go Parabolic

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.