BMO Capital Raises OKTA Price Target to $245

BMO Capital has reaffirmed its Outperform rating for Okta, Inc. with a new price target of $245, a 30.60% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:12 PM EDT

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BMO Capital raised its price target on Okta, Inc. ($OKTA) to $245 from $230 on October 9, 2026, and rates the stock "Outperform".

Since the rating, $OKTA is down 19.3% after 1 week and down 19.3% to date (from the $232.13 close on Oct 9, 2026).

OKTA Okta, Inc.

$187.26 +123.89% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, BMO Capital reiterated its Outperform rating for Okta, Inc. with a price target of $245, up from $230.
BMO Capital's $245 price target implies 30.60% upside from Okta, Inc.'s ($OKTA) current $187.59 share price.
Shares of Okta, Inc. traded recently around $187.59, which is 11.9% below the analyst's new target price.
The company has a market capitalization of approximately $36.5 billion and is set to report earnings on December 1, 2026.

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BMO Capital has reiterated its Outperform rating on Okta, Inc. (NasdaqGS: OKTA) on October 9, 2026, raising its price target from $230 to $245. This reflects confidence in the company's growth potential despite the recent trading price of $187.59, which is 11.9% below the new target.

Other Institutional Activity in Okta, Inc.

Several institutional investors have recently adjusted their positions in Okta. Blackrock Inc. trimmed its holdings by 342,687 shares, ending with 18,695,465 shares valued at about $3.5 billion. FMR, LLC increased its stake by 4,929,486 shares, bringing its total to 16,272,067 shares worth approximately $3.0 billion. Vanguard Portfolio Management LLC decreased its holdings by 282,485 shares, resulting in 8,949,045 shares valued at roughly $1.7 billion. Similarly, Vanguard Capital Management LLC added 6,829 shares, totaling 7,594,193 shares worth about $1.4 billion, while State Street Corporation grew its position by 164,961 shares, ending with 6,274,631 shares valued at about $1.2 billion.

Okta, Inc. Stock Down 11.5%

Currently, Okta shares are trading above their 50-day moving average by about 5.5% and significantly above their 200-day moving average by around 59.8%. However, the stock is about 20.2% below its 52-week high of $235.00 and 199.4% above its 52-week low of $62.66. This positioning suggests that while the stock has gained ground, it still has room to grow to meet analysts' expectations.

12-month forecast

$OKTA price target

Okta, Inc. daily closes and this analyst's $245 target. Not advice.

Recent Earnings

In its latest financial performance, Okta reported trailing twelve-month revenue of approximately $3.07 billion with a year-over-year revenue growth of 10.6%. The company posted an earnings per share (EPS) of $1.55. Okta is expected to announce its next earnings on December 1, 2026.

Insider Buying and Selling at Okta, Inc.

Recent insider transactions include Chief Financial Officer Brett Tighe, who sold 80,000 shares before September 2, 2026, valued at about $12.9 million. President Eric Robert Kelleher sold 2,549 shares at an average price of $168.55 on September 11, 2026, totaling roughly $429,643. Kelleher also sold 6,395 shares valued at about $1.17 million on September 18, 2026. CEO Todd McKinnon sold 48,822 shares before September 22, 2026, valued at approximately $9.4 million.

Analysts Set New Price Targets

On October 9, 2026, BMO Capital maintained its Outperform rating for Okta with a new price target of $245, up from $230. This follows several other analysts who also maintained their ratings, such as Scotiabank, which set a target of $245, and Morgan Stanley, which has a target of $245 as well.

About Okta, Inc.

Okta, Inc. operates as an identity partner, providing secure access solutions for businesses and individuals. The company focuses on identity management and security services, which are increasingly crucial in today's digital landscape. With a strong market presence and innovative solutions, Okta aims to enhance user security and streamline access across various platforms.

Bottom Line

Investors should keep an eye on Okta's performance as it approaches its next earnings report on December 1, 2026. BMO Capital's reaffirmed rating and new price target suggest confidence in the company's future, despite current share prices being below expectations.