DA Davidson Estimates Okta’s FY2025 Earnings (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) – Analysts at DA Davidson upped their FY2025 earnings estimates for Okta in a report issued on Wednesday, December 4th. DA Davidson analyst R. Kessinger now forecasts that the company will post earnings per share of $0.41 for the year, up from their prior estimate of $0.23. DA Davidson has a “Neutral” rating and a $90.00 price target on the stock. The consensus estimate for Okta’s current full-year earnings is $0.18 per share. DA Davidson also issued estimates for Okta’s FY2026 earnings at $0.55 EPS.

A number of other brokerages have also weighed in on OKTA. Susquehanna increased their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group increased their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Sanford C. Bernstein upgraded shares of Okta from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $123.00 to $129.00 in a research report on Thursday. Finally, Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $103.77.

Okta Stock Performance

NASDAQ OKTA opened at $84.79 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $14.40 billion, a PE ratio of -238.60, a price-to-earnings-growth ratio of 20.94 and a beta of 1.00. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a 50-day simple moving average of $75.56 and a 200 day simple moving average of $84.28.

Institutional Investors Weigh In On Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Okta in the 3rd quarter worth $49,373,000. Eminence Capital LP raised its holdings 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 purchasing an additional 305,381 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Okta by 232.0% in the 3rd 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 period. Finally, Truist Financial Corp grew its position in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total transaction of $2,478,369.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 607,215 shares of company stock valued at $46,304,810. Corporate insiders own 7.00% of the company’s stock.

Okta Company Profile

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.