Okta (NASDAQ:OKTA) Releases Earnings Results

Okta reported quarterly earnings of $0.82 per share, surpassing analyst estimates of $0.75. Revenue reached $742 million, exceeding expectations of $730.23 million, marking an 11.6% increase from last year. Okta's stock rose 4.8% to $85.76. Insider sales included CRO Jonathan Addison selling 6,091 shares and insider Eric Kelleher selling 2,410 shares. Institutional investors adjusted their positions, with hedge funds owning 86.64% of Okta's stock. Analysts revised price targets, with BMO Capital Markets lowering theirs to $90.

Okta (NASDAQ:OKTA - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06, Briefing.com reports. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Okta updated its FY 2026 guidance to 3.430-3.440 EPS and its Q4 2026 guidance to 0.840-0.850 EPS.

Okta Stock Up 4.8%

NASDAQ:OKTA traded up $3.89 during midday trading on Wednesday, hitting $85.76. The stock had a trading volume of 7,062,046 shares, compared to its average volume of 3,389,890. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 100.94, a PEG ratio of 3.96 and a beta of 0.77. The stock has a 50-day moving average of $87.06 and a 200 day moving average of $94.08. Okta has a one year low of $75.05 and a one year high of $127.57.

Insider Buying and Selling at Okta

In other news, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares of the company's stock, valued at $654,474.87. The trade was a 46.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Robert Kelleher sold 2,410 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the transaction, the insider owned 9,174 shares of the company's stock, valued at approximately $841,531.02. This represents a 20.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of Okta in the 2nd quarter valued at about $244,000. CreativeOne Wealth LLC grew its stake in shares of Okta by 10.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 2,868 shares of the company's stock worth $263,000 after purchasing an additional 267 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Okta by 194.5% in the second quarter. Rakuten Securities Inc. now owns 1,808 shares of the company's stock valued at $181,000 after purchasing an additional 1,194 shares during the period. Eventide Asset Management LLC lifted its stake in shares of Okta by 33.5% in the second quarter. Eventide Asset Management LLC now owns 2,840 shares of the company's stock valued at $280,000 after purchasing an additional 713 shares during the period. Finally, Alamea Verwaltungs GmbH boosted its holdings in Okta by 34.9% during the second quarter. Alamea Verwaltungs GmbH now owns 2,866 shares of the company's stock worth $287,000 after buying an additional 741 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on OKTA. BMO Capital Markets reduced their price target on shares of Okta from $112.00 to $90.00 and set a "market perform" rating on the stock in a research report on Wednesday. JMP Securities reissued a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price target on shares of Okta in a report on Wednesday. DA Davidson reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Okta from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday. Twenty-three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $111.86.

View Our Latest Research Report on OKTA

Okta Company Profile

(Get Free Report)

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.

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