Scotiabank Cuts Okta (NASDAQ:OKTA) Price Target to $80.00

Okta (NASDAQ:OKTA) had its price target trimmed by Scotiabank from $85.00 to $80.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the stock. Scotiabank also issued estimates for Okta’s FY2027 earnings at $1.59 EPS.

Several other analysts have also recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Okta in a report on Monday, December 1st. Berenberg Bank dropped their price objective on shares of Okta from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Okta from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company initiated coverage on shares of Okta in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Okta from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Okta Stock Performance

Shares of OKTA opened at $80.72 on Thursday. Okta has a 52 week low of $68.77 and a 52 week high of $127.57. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 3.12 and a beta of 0.79. The stock has a fifty day moving average of $85.06 and a 200-day moving average of $87.36.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share 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 business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same quarter in the previous year, the company posted $0.78 EPS. Okta’s quarterly 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, equities analysts forecast that Okta will post 0.42 EPS for the current year.

Okta declared that its board has approved a share buyback program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Eric Robert Kelleher sold 2,409 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $84.40, for a total value of $203,319.60. Following the transaction, the insider owned 11,266 shares in the company, valued at approximately $950,850.40. The trade was a 17.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 35,927 shares of company stock worth $3,272,658. 5.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently bought and sold shares of OKTA. Steward Partners Investment Advisory LLC boosted its position in Okta by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after acquiring an additional 113 shares during the last quarter. Spire Wealth Management raised its position in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares in the last quarter. Allworth Financial LP raised its position in shares of Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after acquiring an additional 135 shares in the last quarter. Choreo LLC lifted its stake in shares of 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 purchasing an additional 140 shares during the period. Finally, Utah Retirement Systems lifted its stake in shares of 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 purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.