Okta's Shocking Stock Prediction Revealed: Is $140 the New Target?

Across the recent three months, 22 analysts have shared their insights on Okta (NASDAQ:OKTA), expressing a variety of opinions spanning from bullish to bearish.

The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. The ratings are depicted as Bullish, Somewhat Bullish, Indifferent, Somewhat Bearish, and Bearish.

Time frame	Bullish	Somewhat Bullish	Indifferent	Somewhat Bearish	Bearish	Total
Last 30D	0	0	10	0	10	20
1M Ago	6	2	10	1	0	20
2M Ago	10	0	0	0	0	10
3M Ago	0	0	0	0	0	0

Insights from analysts' 12-month price targets are revealed, presenting an average target of $105.64, a high estimate of $140.00, and a low estimate of $75.00. A 8.82% drop is evident in the current average compared to the previous average price target of $115.86.

Diving into Analyst Ratings: An In-Depth Exploration In examining recent analyst actions, we gain insights into how financial experts perceive Okta. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst	Analyst Firm	Action Taken	Rating	Current Price Target	Prior Price Target
Joseph Gallo	Jefferies	Lowers	Hold	$85.00	$100.00
Shyam Patil	Susquehanna	Lowers	Neutral	$85.00	$110.00
Fatima Boolani	Citigroup	Lowers	Neutral	$110.00	$115.00

Analysts from firms such as Canaccord Genuity, Stifel, DA Davidson, and BMO Capital have also made adjustments to their ratings and price targets for Okta. Canaccord Genuity lowered their rating to Hold and reduced the price target to $90. Stifel also reduced the price target to $108, while maintaining a Buy rating. DA Davidson adjusted the price target to $85. BMO Capital raised the price target to $103 while maintaining a Market Perform rating.

Among others, Truist Securities lowered the price target to $95 while RBC Capital maintained an Outperform rating with a $125 price target. WestPark Capital maintained a Buy rating with a $140 price target, UBS lowered the price target to $108 while maintaining a Buy rating. Stifel’s Adam Borg reduced the price target to $108. Likewise, Susquehanna downgraded Okta to Neutral and decided on an $85 target. Richard Davis of Canaccord Genuity priced Okta with a $90 target.

Goldman Sachs also adjusted the ratings, reducing the price target to $113 with a Buy rating. Finally, Casey Ryan of WestPark Capital also maintained a Buy rating and price target of $140 for Okta.