Okta, Inc. (OKTA) AI Stock Analysis

Okta, Inc. specializes in identity solutions tailored for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies. Its core offering is the Okta Identity Cloud, featuring Universal Directory as a central repository for user, application, and device profiles. The platform provides Single Sign-On and Adaptive Multi-Factor Authentication across cloud, mobile, and web applications. It also includes Lifecycle Management for identity oversight, API Access Management, Access Gateway for on-premise applications, and Advanced Server Access for cloud infrastructure. In addition, Okta integrates Auth0 products such as Universal Login, Attack Protection, Passwordless authentication, and Machine to Machine capabilities.

Okta grew annual revenue from $1.30B in FY2022 to $1.86B in FY2023, $2.26B in FY2024, $2.61B in FY2025, and $2.92B in FY2026, reflecting a 5-year revenue CAGR of 28.4% from FY2021 to FY2026. Annual revenue growth moderated from 55.7% in FY2022 to 11.8% in FY2026. Gross margin expanded from 69.5% in FY2022 to 77.4% in FY2026, while operating margin improved from -59.1% to 5.2%. Net income shifted from -$848.0M in FY2022 to $235.0M in FY2026. For the latest quarter ended July 31, 2026, quarterly revenue grew 10.6% year-over-year and quarterly earnings grew 75.7% year-over-year, bringing trailing twelve-month revenue to $3.07B with a 9.6% profit margin and EPS of $1.66.

As of July 31, 2026, Okta held $2.30B in cash and short-term investments against total debt of $53.0M, resulting in net cash of $2.25B. Total assets were $9.14B against shareholders' equity of $6.97B, supporting a current ratio of 1.53 and a debt-to-equity ratio of 0.01. During FY2026, operating cash flow was $914.0M and free cash flow was $905.0M. Capital expenditures totaled $9.0M, share buybacks were $73.0M, and share count grew 16.3% over five years.

Okta has a market cap of $32.74B and an enterprise value of $33.66B. It trades at a trailing P/E of 112.8x and a forward P/E of 54.3x, above the medians of 28.1x and 18.8x for its US-listed Technology peers. Its price-to-sales of 10.7x and EV-to-EBITDA of 81.7x also exceed the US-listed Technology peer medians of 2.8x and 16.6x. At the last close of $187.26 on October 16, 2026, Okta delivered a 1-year return of 113.5% versus 16.8% for the S&P 500, though its 5-year return is -26.6% versus 83.0% for the index.

Wall Street analysts hold 25 Strong Buy, 9 Buy, and 10 Hold ratings on Okta, with 0 Sell or Strong Sell ratings. The mean price target is $212.83, which is 13.7% above the last close of $187.26. For the fiscal year ending January 31, 2027, consensus estimates project EPS of $3.93 on revenue of $3.22B. For the subsequent fiscal year, 43 analysts project EPS of $4.38 and revenue of $3.55B. Okta beat EPS estimates in each of the last 4 quarters, and its next earnings date is December 1, 2026.

This page is an AI-written research summary of Okta, Inc. (OKTA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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