Berenberg Bank Cuts Okta (NASDAQ:OKTA) Price Target to $120.00

Okta (NASDAQ:OKTA) had its price objective trimmed by Berenberg Bank from $145.00 to $120.00 in a report released on Thursday,MarketScreener reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on OKTA. Stifel Nicolaus reduced their price target on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $120.00 target price on shares of Okta in a report on Wednesday, December 3rd. Mizuho dropped 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, February 17th. Truist Financial cut their price target on Okta from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Guggenheim reaffirmed a “buy” rating and set a $138.00 price objective on shares of Okta in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Okta Trading Up 1.3%

Shares of Okta stock opened at $80.72 on Thursday. The stock’s fifty day simple moving average is $85.06 and its 200 day simple moving average is $87.36. The company has a market capitalization of $14.31 billion, a PE ratio of 61.62, a PEG ratio of 3.12 and a beta of 0.79. Okta has a 12 month low of $68.77 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same quarter last year, the firm posted $0.78 earnings per share. Okta’s revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts predict that Okta will post 0.42 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 1,899 shares of the business’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. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 8,370 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total value of $754,890.30. Following the completion of the sale, the insider owned 11,266 shares in the company, valued at approximately $1,016,080.54. This trade represents a 42.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,927 shares of company stock worth $3,272,658 in the last three months. 5.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in shares of Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after purchasing an additional 113 shares during the period. Spire Wealth Management boosted its holdings in shares of Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. Allworth Financial LP boosted its holdings in shares of Okta by 6.4% during the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after buying an additional 135 shares during the period. Choreo LLC grew its stake in Okta by 2.0% in the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after buying an additional 140 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in Okta by 0.6% in the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after acquiring an additional 163 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Q4 results beat and signs of enterprise traction — Okta reported stronger-than-expected Q4 revenue and EPS (revenue ~$761M, EPS $0.90) with cRPO/contract metrics up, which underpins the near-term rally. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: AI‑agent product traction — Management said AI‑related products (e.g., Auth0 for AI Agents / Okta for AI Agents) contributed meaningfully to Q4 bookings and the company exceeded $3B in ACV, giving a credible growth narrative tied to securing non‑human identities. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Positive Sentiment: Analyst upgrades and bullish notes — Multiple brokers reiterated or upgraded coverage after the print (BMO upgraded to Outperform with a $97 PT; JPMorgan raised its PT slightly; Jefferies/DA Davidson remain constructive), which supports near‑term upside. BMO Capital Upgrades Okta to Outperform
• Neutral Sentiment: Mixed analyst positioning — while some firms kept or raised price targets, many others trimmed targets on a mix of valuation and near‑term growth concerns; consensus views show upside but with varied conviction. Okta To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Friday
• Neutral Sentiment: Equity plan / shelf filing announced — Okta filed a $763M shelf tied to an ESOP equity offering; routine for employee programs but worth noting for potential future supply. Okta Ties AI Security Push To Larger Contracts And Equity Plans
• Negative Sentiment: Cautious FY‑2027 guidance and Q1 outlook — management’s FY‑27 and Q1 guidance implied a near‑term revenue deceleration (Q1 revenue guide slightly below Street estimates), which tempers the rally and keeps longer‑term growth questions alive. Okta’s Q4 results surpass estimates, but guidance appears mixed
• Negative Sentiment: Competition and execution questions on the AI agent opportunity — analysts warn that the AI‑agent TAM is attractive but unproven; large cloud players and security vendors are building competing solutions, making monetization and sustained re‑acceleration uncertain. Okta: Bigger Deals And Renewed Growth, Thanks To Agentic AI
• Negative Sentiment: Analyst price‑target cuts — several brokers trimmed targets post‑earnings despite positive notes, signaling caution on valuation and the company’s ability to reaccelerate growth. Benzinga Coverage of Price Target Changes

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.