Okta Stock Hits 52-Week High as Analysts Raise Targets – Here’s Why

TLDR

• Okta hit a 52-week high of $153.25, up 61% year-to-date
• 23 analysts revised earnings estimates upward for the upcoming period
• KeyBanc raised its price target to $175; HC Wainwright initiated with a Buy rating
• CEO Todd McKinnon sold 68,936 shares on July 8 at $146.62 under a pre-arranged 10b5-1 plan
• Last quarter, Okta beat EPS estimates ($0.91 vs $0.85) and revenue came in at $765M vs $751.84M expected

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Okta’s stock touched $153.25 on Monday, a fresh 52-week high, before pulling back slightly to trade around $153.09. That puts the stock up 61% year-to-date and 52% over the past twelve months. The company carries a market cap of $26.34 billion.

Okta, Inc., OKTA

The stock’s 52-week low was $62.66, meaning it has more than doubled off the bottom.

Okta’s most recent quarterly earnings, reported May 28, showed EPS of $0.91, beating the $0.85 consensus by $0.06. Revenue came in at $765 million, ahead of the $751.84 million analysts expected, and up 11.2% year-over-year.

The company’s current remaining performance obligations grew 12% year-over-year, also beating expectations.

For FY2027, Okta has set EPS guidance of $3.79–$3.87. Q2 2027 guidance sits at $0.95–$0.97 EPS.

Gross profit margin stands at 77%, and the company has a net margin of 8.24%. Return on equity is 4.15%.

Analyst Upgrades Push Targets Higher

KeyBanc lifted its price target to $175 from $130, citing market leadership and the company’s alignment with Anthropic. HC Wainwright initiated coverage on July 6 with a Buy rating.

UBS raised its target to $150, pointing to strong Q1 results and early AI product adoption. Scotiabank moved its target to $135 following investor meetings focused on AI agent security.

Cantor Fitzgerald kept its Overweight rating with a $125 target after the revenue beat. Royal Bank of Canada bumped its target from $108 to $122 with an Outperform rating.

The current consensus is Moderate Buy, with 27 analysts at Buy, 13 at Hold, and 2 at Sell. The average target price sits at $118.97 — well below where the stock is trading now.

InvestingPro flags the stock as overvalued relative to its Fair Value estimate.

Insider Sales and Institutional Activity

CEO Todd McKinnon sold 68,936 shares on July 8 at an average price of $146.62, totalling just over $10.1 million. The transaction was executed under a pre-arranged Rule 10b5-1 plan and represented a 64.17% reduction in his direct ownership. He now holds 38,484 shares.

Insider Eric Kelleher sold 3,977 shares on June 18 at $114.10. Over the last quarter, insiders have sold 174,224 shares worth approximately $22.5 million in total.

Institutional investors own 86.64% of the stock. Diversify Wealth Management LLC opened a new position in Q1, buying 27,265 shares worth around $2.08 million. Fifth Third Bancorp increased its holdings by 1,901% during the same period.

Okta’s 50-day moving average is $112.57, and the 200-day moving average is $92.36 — the stock is trading well above both.