Needham Reiterates Buy Rating on Okta, Inc. with $140 Target

Needham has reaffirmed its confidence in Okta, Inc. (NasdaqGS: OKTA) by reiterating a buy rating and setting a price target of $140. This update came from analyst Mike Cikos on June 24, 2026. Okta's shares traded around $118.16 on that Wednesday.

Other Institutional Activity in Okta, Inc.

BlackRock, Inc. grew its holdings in Okta by 443,999 shares, ending with 19,037,532 shares valued at approximately $1.50 billion. FMR LLC also increased its stake by 1,334,029 shares, bringing its total to 11,342,824 shares worth about $892.79 million. Vanguard Portfolio Management LLC opened a new position with 9,231,099 shares valued at $726.58 million. Meanwhile, State Street Corp added 118,369 shares to hold 6,109,776 shares valued at $480.90 million. In contrast, First Trust Advisors LP reduced its position by 1,835,482 shares, leaving it with 4,194,608 shares valued at $330.16 million.

Okta, Inc. Stock Down 28.3%

Shares of Okta, Inc. (NasdaqGS: OKTA) traded near $118.16 on Wednesday. The company has a market cap of approximately $20.15 billion and a P/E ratio of 84.0, with a forward P/E of 27.1. Okta's beta is relatively low at 0.794, indicating less volatility compared to the market. The stock's 52-week range spans from $62.66 to $142.35, with a 50-day moving average of $91.43 and a 200-day moving average of $87.22.

Recent Earnings

Okta reported a revenue of $3.00 billion, marking a growth of 11.2%. The company's net margin stands at 8.24%, with a return on equity of 3.67%. The next earnings report is scheduled for August 25, 2026.

Insider Buying and Selling at Okta, Inc.

Several insiders at Okta have been active in the market. On June 18, 2026, Eric Robert Kelleher, President and COO, sold 3,977 shares at an average price of $114.10 under a pre-planned trading program. On June 21, 2026, Anthony John Bates both bought and sold 2,033 shares. Jacques Frederic Kerrest sold 6,800 shares on June 18, while David Schellhase bought 2,080 shares on the same day.

Analysts Set New Price Targets

On June 24, 2026, Needham maintained its buy rating on Okta with a $140 price target. Earlier in June, UBS also maintained a buy rating, setting a target of $150. Mizuho downgraded the stock to hold with a $125 target on June 2, 2026. The consensus among analysts remains a buy, with an average target price of $119.70 based on 43 opinions.

About Okta, Inc.

Okta, Inc. is a technology company based in San Francisco, California. It specializes in identity management solutions, offering products like Single Sign-On, Adaptive Multi-Factor Authentication, and API Access Management. The company aims to secure access to applications and APIs for organizations worldwide. Under the leadership of CEO Todd McKinnon, Okta employs over 6,300 people.

Bottom Line

Needham's reiterated buy rating for Okta, Inc. underscores ongoing confidence in the company's potential, setting a $140 price target. With a range of institutional investors adjusting their positions, Okta remains a focal point for market watchers. As always, remember that analyst ratings and institutional moves are backward-looking and should be considered as part of a broader investment strategy.