Needham & Company LLC Cuts Okta (NASDAQ:OKTA) Price Target to $90.00

Okta (NASDAQ:OKTA) had its price target reduced by Needham & Company LLC from $110.00 to $90.00 in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the company. Scotiabank reduced their price objective on Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 3rd. Wells Fargo & Company assumed coverage on shares of Okta in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 price target on the stock. Jefferies Financial Group decreased their price objective on shares of Okta from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Canaccord Genuity Group restated a “buy” rating and set a $120.00 target price on shares of Okta in a report on Wednesday, December 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Okta in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Okta Stock Performance

Okta stock opened at $80.72 on Thursday. Okta has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.79. The stock’s fifty day moving average is $85.06 and its two-hundred day moving average is $87.36.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue for the quarter 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, sell-side analysts forecast that Okta will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has approved a share repurchase plan on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire 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 stock is undervalued.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 1,836 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider directly owned 36,328 shares of the company’s stock, valued at $3,032,298.16. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett Tighe sold 10,000 shares of the stock in a transaction 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 transaction, the chief financial officer owned 134,385 shares in the company, valued at $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,927 shares of company stock valued at $3,272,658 over the last 90 days. 5.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Okta

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in shares of Okta during the 3rd quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its holdings in Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares during the last quarter. Promus Capital LLC acquired a new position in Okta in the second quarter valued at approximately $27,000. SHP Wealth Management bought a new position in shares of Okta during the fourth quarter valued at approximately $27,000. Finally, Torren Management LLC acquired a new stake in shares of Okta during the 4th quarter worth approximately $32,000. Institutional investors own 86.64% of the company’s stock.

Trending Headlines about Okta

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.