Stifel analyst Adam Borg raised the price target on Okta, Inc (NASDAQ: OKTA) to $215.00 (from $180.00) while maintaining a Buy rating.

The analyst comments "We attended Okta's annual user conference, Oktane 2026, in Las Vegas, where key focus was around three announcements to better secure agentic identities: The Blueprint Alliance: an industry coalition to find all agents within an organization, understand what they can do, provide visibility into what they are actually doing, and respond to threats; Agent SSO: allows agents to log into systems using frictionless single sign-on; and Okta for AI Agents (O4AA): New O4AA capabilities including Agent Gateway, Shadow AI Agent Discovery, etc. At the event, management hosted a 60-minute Q&A session (no financial discussion) that primarily focused on new product announcements, the broader agentic identity opportunity, and recent GTM success, among other topics. (continued) Beyond this, we spoke with a handful of customers (and partners) who are happy customers and are interested in adopting additional Okta capabilities such as IGA/PAM. Regarding AI, customers were generally early in their production AI journey (and associated AI identity security journey), but were interested in learning more about Okta's new O4AA innovation. Net/net, we are pleased to see Okta's continued breadth of product innovation and our positive conference checks, and continue to believe that Identity remains a top security priority and that Okta has an emerging opportunity to secure AI. Collectively, we continue to believe the risk/reward remains skewed to the upside as Okta demonstrates traction securing non-human identities and looks to re-accelerate cRPO and revenue growth, and that shares can see multiple expansion as this plays out. Raising TP to $215."