Okta (OKTA) – Analysts’ Recent Ratings Changes

Okta (NASDAQ: OKTA) recently received a number of ratings updates from brokerages and research firms:

• 12/19/2024 – Okta was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $115.00 price target on the stock.
• 12/19/2024 – Okta had its price target lowered by analysts at Jefferies Financial Group Inc. from $100.00 to $90.00. They now have a “hold” rating on the stock.
• 12/17/2024 – Okta had its price target lowered by analysts at Sanford C. Bernstein from $129.00 to $124.00. They now have an “outperform” rating on the stock.
• 12/17/2024 – Okta had its price target raised by analysts at Robert W. Baird from $105.00 to $115.00. They now have an “outperform” rating on the stock.
• 12/16/2024 – Okta was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $100.00 price target on the stock.
• 12/5/2024 – Okta was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $129.00 price target on the stock, up previously from $123.00.
• 12/5/2024 – Okta had its price target raised by analysts at Wells Fargo & Company from $80.00 to $95.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Scotiabank from $92.00 to $96.00. They now have a “sector perform” rating on the stock.
• 12/4/2024 – Okta had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $101.00 price target on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Robert W. Baird from $95.00 to $105.00. They now have an “outperform” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Citigroup Inc. from $90.00 to $95.00. They now have a “neutral” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at DA Davidson from $75.00 to $90.00. They now have a “neutral” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Piper Sandler from $85.00 to $90.00. They now have a “neutral” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Susquehanna from $85.00 to $95.00. They now have a “neutral” rating on the stock.
• 12/4/2024 – Okta had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 12/4/2024 – Okta had its price target raised by analysts at Sanford C. Bernstein from $116.00 to $123.00. They now have a “market perform” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at BMO Capital Markets from $103.00 to $105.00. They now have a “market perform” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Canaccord Genuity Group Inc. from $82.00 to $94.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Canaccord Genuity Group Inc. from $82.00 to $94.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Okta had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $92.00 price target on the stock, up previously from $80.00.
• 12/4/2024 – Okta had its price target raised by analysts at Jefferies Financial Group Inc. from $85.00 to $100.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Barclays PLC from $81.00 to $96.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at The Goldman Sachs Group, Inc. from $97.00 to $107.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at BTIG Research from $98.00 to $110.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Okta had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $130.00 price target on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Stifel Nicolaus from $108.00 to $115.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Okta had its price target raised by analysts at Needham & Company LLC from $100.00 to $115.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Okta had its “buy” rating reaffirmed by analysts at Westpark Capital. They now have a $140.00 price target on the stock.
• 12/2/2024 – Okta was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $97.00 price target on the stock, up previously from $92.00.
• 11/29/2024 – Okta had its price target lowered by analysts at JPMorgan Chase & Co. from $105.00 to $85.00. They now have a “neutral” rating on the stock.
• 11/19/2024 – Okta is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $81.00 price target on the stock.
• 11/12/2024 – Okta was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating. They now have a $85.00 price target on the stock, down previously from $115.00.
• 11/4/2024 – Okta had its price target lowered by analysts at Morgan Stanley from $100.00 to $92.00. They now have an “equal weight” rating on the stock.

Okta Stock Performance

Shares of OKTA opened at $83.60 on Tuesday. The company has a market capitalization of $14.33 billion, a PE ratio of -238.86, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company’s fifty day moving average price is $77.74 and its 200 day moving average price is $83.23.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now directly owns 1,622 shares in the company, valued at $130,862.96. This trade represents a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,797 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11. Following the transaction, the insider now owns 24,916 shares in the company, valued at approximately $1,934,229.08. The trade was a 10.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,397 shares of company stock worth $28,539,445. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the company. Atomi Financial Group Inc. bought a new stake in shares of Okta during the second quarter valued at approximately $206,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Okta by 11.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,285 shares of the company’s stock valued at $1,524,000 after buying an additional 1,721 shares in the last quarter. Burney Co. bought a new position in shares of Okta during the 2nd quarter worth about $562,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Okta by 524.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,287 shares of the company’s stock worth $2,619,000 after acquiring an additional 23,754 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Okta by 57.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 110,308 shares of the company’s stock valued at $10,326,000 after acquiring an additional 40,052 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.