Truist Financial Cuts Okta (NASDAQ:OKTA) Price Target to $100.00

Okta (NASDAQ:OKTA) had its price target cut by Truist Financial from $115.00 to $100.00 in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

OKTA has been the subject of several other reports. Mizuho cut their target price on shares of Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Scotiabank decreased their price target on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 3rd. Needham & Company LLC dropped their price target on Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank Of Canada increased their price objective on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, BTIG Research reduced their price objective on Okta from $116.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Okta Stock Up 1.3%

Shares of Okta stock opened at $80.72 on Thursday. The business has a fifty day simple moving average of $85.06 and a 200-day simple moving average of $87.36. Okta has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The firm has a market cap 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.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results 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 firm had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. During the same period in the previous year, the business earned $0.78 earnings per share. Okta’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. Analysts anticipate that Okta will post 0.42 earnings per share for the current fiscal year.

Okta announced that its board has initiated a share repurchase plan on Monday, January 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Okta

In other Okta news, insider Eric Robert Kelleher sold 8,370 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $90.19, for a total value of $754,890.30. Following the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at $1,016,080.54. This represents a 42.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,899 shares of Okta stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the sale, the insider owned 38,164 shares of the company’s stock, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 35,927 shares of company stock worth $3,272,658. 5.68% of the stock is owned by company insiders.

Institutional Trading of Okta

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Okta during the 3rd quarter worth $26,000. Elevation Wealth Partners LLC lifted its stake in shares of 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 during the last quarter. Promus Capital LLC bought a new stake in Okta in the second quarter worth $27,000. SHP Wealth Management bought a new stake in Okta in 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 owned by institutional investors.

Okta News Roundup

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.