Needham Rates OKTA buy, $140 Price Target

Needham's analyst Mike Cikos keeps a buy rating for Okta, setting a new price target of $140, a 17.39% upside from the current price.

By EarningsIQ Research Desk · Published Jun 24, 2026, 8:00 AM EDT · Updated Jun 26, 2026, 12:02 PM EDT

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Needham rated Okta, Inc. ($OKTA) "buy" with a $140 price target on June 24, 2026.

Since the rating, $OKTA is up 18.4% after 1 week, up 16.8% after 1 month and up 57.9% to date (from the $118.58 close on Jun 24, 2026).

OKTA Okta, Inc.

$187.26 +123.89% year to date

Daily close · Oct 16, 2026

Key Points

On June 24, 2026, Needham reiterated its buy rating on Okta, Inc. with a price target of $140, while the stock is currently priced at $119.26.
Needham's $140 price target implies 17.39% upside from Okta, Inc.'s ($OKTA) current $119.26 share price.
Okta's market cap stands at about $36.5 billion, and it has a P/E ratio of 134.5, reflecting its position in the technology sector.
The average analyst price target for Okta is $212.83, indicating a significant gap between current trading prices and analyst expectations.

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Needham Maintains Buy Rating for Okta

On June 24, 2026, Needham's analyst Mike Cikos reiterated a buy rating for Okta, Inc. (NasdaqGS: OKTA) and set a new price target of $140. The stock was trading at $119.26 at the time of the report.

Analyst rating track record

Needham vs. the S&P 500

YTD return +14.82% hypothetical

All-time return +82.97% S&P 500 +26.38%

vs. S&P 500 +56.59% ahead of the index

Hypothetical returns from Needham's disclosed trades, not real profit or advice. How we model this.

Analysts Set New Price Targets

This reiteration comes as analysts continue to have varied opinions on Okta. Citigroup maintains a Neutral rating with a target of $215, while BMO Capital keeps an Outperform rating with a target of $245. Morgan Stanley also maintains an Overweight rating, increasing its target from $200 to $245. The consensus among analysts shows a strong interest in Okta, with a mean price target of $212.83 from 43 opinions.

Stock Performance Context

Okta's shares have seen significant fluctuations, with a 52-week low of $62.66 and a high of $235. The current price of $119.26 suggests that the stock is trading well below its peak, which may attract investors looking for growth opportunities. The stock trades below its 200-day moving average of $117.42, indicating potential for recovery.

12-month forecast

$OKTA price target

Okta, Inc. daily closes and this analyst's $140 target. Not advice.

What Okta, Inc. Does

Okta, Inc. operates as an identity partner, providing secure access to applications across various environments. Its offerings include Single Sign-On, Adaptive Multi-Factor Authentication, and API Access Management, catering to both cloud and on-premises environments. This focus on security and identity management positions Okta as a key player in the technology sector.

What's Ahead for Okta, Inc.

Investors will be watching for Okta's next earnings report scheduled for December 1, 2026. As a reminder, Needham's analysis reflects past performance and may not represent current market conditions. Analysts remain optimistic about Okta's potential for growth amid evolving security needs.