Okta, Inc (OKTA) PT Raised to $220 at BofA Securities

BofA Securities analyst Tal Liani raised the price target on Okta, Inc (NASDAQ: OKTA) to $220.00 (from $200.00) while maintaining a Neutral rating.

The analyst comments "Okta’s ‘Oktane 2026’ conference centered on efforts to become the identity control plane for AI agents. The key announcements were focused on product and strategic positioning (no financial updates), such as: the Secure Agentic Enterprise Blueprint & Alliance, free Agent SSO to drive adoption of agent identity standards, and a meaningful expansion of the ‘Okta for AI Agents’ platform that better addresses lifecycle governance and runtime controls. We are particularly encouraged by the AI Agent enhancements, such as Shadow AI Agent Discovery, Agent Gateway, and Agent-to-Agent Connections. Management's messaging also extended beyond product launches, emphasizing that Agentic Identity could represent a larger TAM than Identity Security today and new support for third-party identity providers should accelerate Okta’s AI traction. Overall, we view the day as another positive step for Okta’s AI narrative, and we raise our PO to $220 from $200 now based on 12x CY27E EV/Sales vs 11x prior to better capture the improvements. While encouraging, this reflects a continuation of early momentum and does not alter the core investment thesis; reiterate Neutral."

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