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OKTAOkta, Inc.
$196.62$32.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
OKTA logo

Okta, Inc.

OKTA
NASDAQ · Infrastructure Software
$196.62
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$32.66B
P/E150.1x
52W High$198.09
Volume5.13M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2027Q2

Profitability Inflection Tempered by Decelerating Growth and SBC Dilution

Okta has executed a successful pivot to profitability, with operating margins swinging from -7.6% in 2025Q1 to 13.3% in 2027Q2, driven by disciplined SG&A control and gross margin expansion. However, this operational improvement is occurring against a backdrop...

GrowthDecelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsStrong
Explore valuation models
MARKET ACTION

OKTA price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

12/12 Beats

EPS beat 12 of last 12 quarters

02

Valuation risk

+333% Peers

P/E is 333% above peer median

03

Market leadership

RS 96 · Leader

High momentum (Outperforming 96% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 26
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has decelerated to 10.6% in 2027Q2, but operating margins have expanded significantly to 13.3%, demonstrating the emergence of operating leverage.

Analyst Consensus-9.3% target
Buy(52 analysts)
38 Buy13 Hold1 Sell

The Bull Case

Upside Catalysts

Leadership in cloud identity

Okta is recognized as a leader in cloud identity management, providing secure and flexible access solutions for companies.

Early AI agent adoption

The company is leveraging early adoption of AI agents, positioning itself for future growth and innovation in identity management.

Improving profitability

Okta has shown signs of improving profitability, which is a positive signal for long-term financial health and investor confidence.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
OKTA+135.08%
S&P 500 (^GSPC)+13.20%
1-Year Return
OKTA+112.84%
S&P 500 (^GSPC)+15.98%
3-Year Return
OKTA+143.70%
S&P 500 (^GSPC)+86.25%
5-Year Return
OKTA-23.63%
S&P 500 (^GSPC)+77.36%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
150.1x
Forward P/EExpansion
50.1x
EV/EBITDA50th %ile
129.4x
FCF YieldCash Flow
2.8%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
150.1x
64.5x
100th· High
EV/EBITDA
129.4x
486.8x
50th· Fair
Price/FCF
36.1x
27.7x
60th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$25.29-87.1%
Base (Fair)$141.20-22.5%
Bull$44.21-77.5%
$25.29 Bear$141.20 Base$44.21 Bull
Current Market Price: $196.62
Trades at a 39.2% premium to Base DCF ($141.20)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.92B+11.8% YoY
Net income
$235M+739.3% YoY
Free cash flow
$905M+24.0% YoY
Operating margin
5.2%+7.7 pts YoY
ROIC (TTM)1.7%
Avg ROIC 5Y-
ROE (TTM)3.5%
Piotroski Score8 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate12/12 (100%)
Revenue Beat Rate12/12 (100%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 26, 2026
$1.05+8.8%
vs $0.96
$805M+1.5%
vs $793M
Q2 2026
May 28, 2026
$0.91+6.7%
vs $0.85
$765M+1.7%
vs $752M
Q2 2026
Mar 4, 2026
$0.90+6.4%
vs $0.85
$761M+1.5%
vs $750M
Q4 2025
Dec 2, 2025
$0.82+8.2%
vs $0.76
$742M+1.5%
vs $731M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·1d ago
Okta, Inc. (OKTA) Is a Trending Stock: Facts to Know Before Betting on It

Okta (OKTA) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

24/7 Wall Street·2d ago
Cybersecurity Stocks Extend Gains on AI Safety Warnings: CrowdStrike and Okta Rise 4%, Palo Alto Ticks Up

Cybersecurity stocks are extending last week's advance into Monday's midday session, and the leaders today are identity and endpoint names rather than the network security franchise. CrowdStrike Holdings (NASDAQ:CRWD | CRWD Price Prediction) stock is up 4.02% to $247.

Business Wire·5d ago
Okta Names Helen Riley to Board of Directors

SAN FRANCISCO--(BUSINESS WIRE)--Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced the appointment of Helen Riley to the company's board of directors, effective as of today.“Helen brings two decades of deep financial and operational experience from her time at companies solving some of the world's most challenging problems with AI,” said Todd McKinnon, Okta CEO and Co-Founder. “Her perspective will be invaluable as we seize the growing opportunity to secure AI.

The Motley Fool·5d ago
Why Shares of Okta Stock Shot Up 10% This Week

Okta is getting a lift from the growing importance of AI-driven cybersecurity. The company's backlog is growing nicely.

Filtered for Okta, Inc.More Headlines
04

Compare before deciding

Benchmark OKTA against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Okta, Inc. (OKTA)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
OKTA logoOKTAOkta, Inc.Current
$196.62$32.66B150.0911.84%8.05%3.51%—
SAIL logoSAILSailPoint, Inc.
$21.37$12.12B-41.1024.35%-16.92%-2.88%—
CYBR logoCYBRCyberArk Software Ltd.
$408.85$20.64B-139.5436.01%-10.79%-6.11%—
VRNT logoVRNTVerint Systems Inc.
$20.51$1.24B19.72-0.13%6.87%4.6%—
ZS logoZSZscaler, Inc.
$210.18$33.99B-778.4423.31%-1.88%-2.76%—
CRWD logoCRWDCrowdStrike Holdings, Inc.
$250.06$254.63B-1562.8821.71%1.08%1.27%—

Compare OKTA vs Peers

Okta, Inc. (OKTA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SAIL

Most directly comparable listed peer for OKTA.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare OKTA against a more recognizable public peer.

Peer Set

Compare Top 5

vs SAIL, CYBR, VRNT, ZS

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

OKTA SEC Filings & Documents

Okta, Inc. (OKTA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 26, 2026·SEC

Material company update

May 28, 2026·SEC

Material company update

Apr 22, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 5, 2026·SEC

FY 2025

Mar 5, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 27, 2026·SEC

FY 2026

May 29, 2026·SEC

FY 2025

Dec 3, 2025·SEC

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OKTA Frequently Asked Questions

Okta, Inc. (OKTA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Okta, Inc.'s revenue?

Okta, Inc. (OKTA) reported $3.07B in revenue for fiscal year 2026. This represents a 7393% increase from $41.0M in 2015.

How fast is Okta, Inc. growing?

Okta, Inc. (OKTA) grew revenue by 11.8% over the past year. This is steady growth.

Is OKTA profitable?

Yes, Okta, Inc. (OKTA) is profitable, generating $296.0M in net income for fiscal year 2026 (8.1% net margin).

Dividend & Returns
What is OKTA's return on equity?

Okta, Inc. (OKTA) has a return on equity (ROE) of 3.5%. This is below average, suggesting room for improvement.

What is Okta, Inc.'s free cash flow?

Okta, Inc. (OKTA) generated $1.01B in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in OKTA back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →