Research Analysts Issue Forecasts for Okta FY2025 Earnings

Okta, Inc. (NASDAQ:OKTA) – Stock analysts at Scotiabank boosted their FY2025 EPS estimates for Okta in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will post earnings per share of $0.41 for the year, up from their previous forecast of $0.21. Scotiabank currently has a “Sector Perform” rating and a $96.00 target price on the stock. The consensus estimate for Okta’s current full-year earnings is $0.40 per share.

Other analysts also recently issued research reports about the company. Robert W. Baird boosted their price objective on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research note on Monday, December 16th. DA Davidson increased their target price on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Truist Financial restated a “hold” rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.45.

Okta Stock Performance

OKTA opened at $84.37 on Friday. The business has a 50 day moving average price of $79.91 and a two-hundred day moving average price of $82.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $14.46 billion, a price-to-earnings ratio of -241.06, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. Okta has a 1-year low of $70.56 and a 1-year high of $114.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Okta during the 3rd quarter valued at approximately $49,373,000. Nordea Investment Management AB grew its holdings in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the last quarter. Eminence Capital LP increased its position in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after buying an additional 305,381 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the transaction, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 607,129 shares of company stock valued at $47,937,652. 7.00% of the stock is currently owned by corporate insiders.

About Okta

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.