Okta (NASDAQ:OKTA) Stock Rating Upgraded by DA Davidson

Okta (NASDAQ:OKTA) was upgraded by equities research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $125.00 target price on the stock, up from their previous target price of $90.00. DA Davidson’s price objective points to a potential upside of 7.47% from the stock’s current price. DA Davidson also issued estimates for Okta’s Q1 2026 earnings at $0.19 EPS.

Several other research analysts also recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Westpark Capital reiterated a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Friday, February 28th. BTIG Research boosted their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Mizuho upgraded Okta from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $110.00 to $127.00 in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.10.

Okta Trading Up 7.4 %

Shares of Okta stock opened at $116.31 on Tuesday. 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 has a 1 year low of $70.56 and a 1 year high of $116.75. The company has a market capitalization of $19.93 billion, a P/E ratio of -332.31, a P/E/G ratio of 6.42 and a beta of 1.09. The business has a 50 day moving average price of $89.88 and a 200 day moving average price of $82.47.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at $10,015,437. This represents a 4.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 849,482 shares of company stock valued at $74,422,216. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fluent Financial LLC acquired a new stake in shares of Okta in the 4th quarter valued at about $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Okta in the 4th quarter valued at about $8,680,000. Forum Financial Management LP acquired a new stake in shares of Okta in the 4th quarter valued at about $333,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta in the 4th quarter valued at about $40,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Okta in the 4th quarter valued at about $299,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

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.