Citigroup Cuts Okta (NASDAQ:OKTA) Price Target to $87.00

Okta (NASDAQ:OKTA) had its target price lowered by Citigroup from $100.00 to $87.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on OKTA. Mizuho reduced their price target on shares of Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. DA Davidson reissued a “buy” rating and issued a $110.00 price objective on shares of Okta in a report on Thursday. Stephens cut their target price on shares of Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Finally, Needham & Company LLC decreased their price target on shares of Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

Okta Price Performance

Shares of OKTA opened at $80.72 on Thursday. Okta has a one year low of $68.77 and a one year high of $127.57. The firm has a market capitalization of $14.31 billion, a P/E ratio of 61.62, a PEG ratio of 3.12 and a beta of 0.79. The business has a fifty day moving average of $85.06 and a 200 day moving average of $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 analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. 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 expect that Okta will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has initiated a share buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.47, for a total transaction of $153,250.92. Following the sale, the insider owned 36,328 shares in the company, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of Okta stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,927 shares of company stock worth $3,272,658 in the last quarter. 5.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OKTA. Steward Partners Investment Advisory LLC increased its stake in Okta by 5.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after buying an additional 113 shares in the last quarter. Spire Wealth Management raised its holdings in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. Allworth Financial LP lifted its position in shares of Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after acquiring an additional 135 shares in the last quarter. Choreo LLC boosted its stake in shares of Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company’s stock worth $664,000 after acquiring an additional 140 shares during the period. Finally, Utah Retirement Systems boosted its stake in shares of Okta by 0.6% in the fourth quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock worth $2,473,000 after acquiring an additional 163 shares during the period. Institutional investors own 86.64% of the company’s stock.

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

About Okta

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.