Canaccord Genuity Group Cuts Okta (NASDAQ:OKTA) Price Target to $95.00

Okta (NASDAQ:OKTA) had its price objective lowered by Canaccord Genuity Group from $120.00 to $95.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Roth Mkm reissued a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Citigroup lowered their price objective on shares of Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price objective on shares of Okta from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Mizuho lowered their target price on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Okta Stock Up 1.3%

NASDAQ OKTA opened at $80.72 on Thursday. The firm has a market cap of $14.31 billion, a P/E ratio of 61.62, a P/E/G ratio of 3.12 and a beta of 0.79. Okta has a 52-week low of $68.77 and a 52-week high of $127.57. The business’s 50-day moving average price is $85.06 and its 200 day moving average price is $87.36.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same period in the prior year, the business earned $0.78 EPS. The firm’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. As a group, analysts anticipate that Okta will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has approved a stock repurchase program on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total transaction of $950,700.00. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction dated 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 owned 38,164 shares in the company, valued at $3,463,001.36. The trade was 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 quarter, insiders sold 35,927 shares of company stock valued at $3,272,658. Company insiders own 5.68% of the company’s stock.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in shares of Okta during the 3rd quarter worth approximately $26,000. Elevation Wealth Partners LLC increased its stake in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares in the last quarter. Promus Capital LLC purchased a new position in Okta in the 2nd quarter valued at approximately $27,000. SHP Wealth Management acquired a new position in Okta during the fourth quarter worth $27,000. Finally, Torren Management LLC acquired a new position in Okta during the fourth quarter worth $32,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Key Okta News

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.