Morgan Stanley Lowers Okta (NASDAQ:OKTA) Price Target to $110.00

Morgan Stanley lowered Okta's price target from $123 to $110, maintaining an "overweight" rating. The new target suggests a 33.80% potential upside from the current price. Other analysts also adjusted their targets, with mixed ratings ranging from "buy" to "hold." Okta's stock traded at $82.21, with insider sales and institutional changes noted. The average target price is $109.76, with a "Moderate Buy" consensus.

Okta (NASDAQ:OKTA - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $123.00 to $110.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 33.80% from the stock's current price.

Okta: Market Comes to a Boil, Explosive Upside Is Possible

Several other equities research analysts also recently issued reports on OKTA. Weiss Ratings reissued a "hold (c-)" rating on shares of Okta in a research note on Wednesday, October 8th. Needham & Company LLC reduced their price target on shares of Okta from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Okta from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday. KeyCorp reaffirmed an "overweight" rating and set a $140.00 price objective on shares of Okta in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Okta from $110.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday. Twenty-three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Okta currently has an average rating of "Moderate Buy" and an average target price of $109.76.

Read Our Latest Stock Report on Okta

Okta Price Performance

3 Cybersecurity Stocks to Watch Ahead of 2026 Midterms

Okta stock traded up $0.34 during midday trading on Wednesday, reaching $82.21. The stock had a trading volume of 3,774,814 shares, compared to its average volume of 3,366,638. Okta has a twelve month low of $75.05 and a twelve month high of $127.57. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 96.89, a PEG ratio of 3.96 and a beta of 0.77. The firm's fifty day simple moving average is $87.06 and its two-hundred day simple moving average is $94.08.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 1,318 shares of the firm's stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $85.26, for a total transaction of $112,372.68. Following the transaction, the insider directly owned 36,519 shares in the company, valued at $3,113,609.94. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares of the company's stock, valued at $12,666,920. This represents a 6.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its stake in shares of Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company's stock valued at $206,000 after acquiring an additional 135 shares in the last quarter. Swiss Life Asset Management Ltd grew its holdings in Okta by 15.6% during the third quarter. Swiss Life Asset Management Ltd now owns 18,131 shares of the company's stock valued at $1,663,000 after purchasing an additional 2,443 shares during the last quarter. Cantor Fitzgerald L. P. raised its position in shares of Okta by 197.5% in the third quarter. Cantor Fitzgerald L. P. now owns 17,417 shares of the company's stock valued at $1,597,000 after purchasing an additional 11,562 shares during the period. Cambria Investment Management L.P. lifted its stake in shares of Okta by 1.5% in the third quarter. Cambria Investment Management L.P. now owns 15,627 shares of the company's stock worth $1,433,000 after buying an additional 228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Okta by 378.3% in the third quarter. CIBC Private Wealth Group LLC now owns 727 shares of the company's stock worth $67,000 after buying an additional 575 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

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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