+3.58% to $202.18 from $195.19
What moved OKTA
- Six analyst firms — including Jefferies, Guggenheim, Bank of America, Needham, Wells Fargo, RBC and DA Davidson — raised price targets on Okta following its Oktane 2026 conference, with new targets ranging roughly from $215 to $240.
- All of the raised targets kept Buy-equivalent ratings tied to Okta’s push into what analysts termed “agentic identity” security.
- At Oktane, Okta launched a “Blueprint Alliance” with partners including AWS, CrowdStrike and Salesforce focused on securing AI agents.
- RBC Capital said it came away more positive on Okta’s position as a thought leader in agentic identity security, citing pipeline traction from its new Okta for AI Agents offering.
Sources: 24/7 Wall St. · Benzinga · Investing.com
+1.01% to $190.02 from $188.12
What moved OKTA
- Bernstein downgraded Okta to Market Perform from Outperform while raising its price target to $174 from $143
- Analyst Peter Weed said Okta’s roughly 28% rally over the prior month had pushed shares beyond Bernstein’s updated fair-value estimate
- BTIG and Wells Fargo pushed back on the downgrade, maintaining bullish ratings with price targets of $219 and $200, respectively
Sources: Ortex
+28.63% to $172.91 from $134.42
What moved OKTA
- Second-quarter revenue rose 11% year over year to $805 million; adjusted EPS of $1.05 beat the year-ago quarter’s $0.91, and GAAP net income rose to $116 million, or $0.65 per diluted share, from $67 million, or $0.37 per share, a year earlier.
- The company raised its full-year outlook, citing growing enterprise pressure to secure AI agents and other non-human identities.
- Morgan Stanley reiterated an Overweight rating and a $180 price target, calling Okta first to market with a comprehensive ‘agentic identity’ security platform.
Sources: SecurityWeek · TradingKey