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Investing.com - TD Cowen has maintained its Hold rating and $115.00 price target on Okta, Inc (NASDAQ:OKTA) ahead of the company’s second-quarter fiscal 2026 earnings report scheduled for August 26. According to InvestingPro data, analyst targets range from $75 to $148, with the stock currently trading at $92.02.
The research firm expects Okta to deliver results in line with expectations, noting that trends within the Identity and Access Management (IAM) category remain solid, as evidenced by recent quarterly results from industry peers. InvestingPro analysis reveals 41 analysts have revised their earnings upward for the upcoming period, suggesting growing confidence in the company’s prospects.
TD Cowen questioned management’s first-quarter commentary about "added levels of uncertainty" but suggested that positive views for the second half of fiscal 2026 could help address some investor concerns.
The firm identified the upcoming Oktane user conference in late September as the next near-term catalyst for the identity management software provider.
Okta specializes in cloud-based identity and access management solutions that help organizations secure their digital infrastructure and manage user authentication across various applications.
In other recent news, Okta has reported several significant developments. The company experienced a notable decline in its stock price following its latest earnings report, with analysts from Bernstein SocGen maintaining an Outperform rating, citing concerns over a smaller-than-expected revenue beat and the absence of a full-year guidance raise. In a strategic move, Okta appointed David Schellhase and Maggie Wilderotter to its board of directors to strengthen its leadership team. The company also expanded its partnership with Palo Alto Networks to include new security integrations aimed at enhancing threat response and securing application access. Additionally, Okta launched Cross App Access, a new protocol designed to improve security for AI agents across enterprise systems. Following its annual meeting, Okta announced the resignation of board member Benjamin Horowitz, reducing the board size from nine to eight members. These developments reflect Okta’s ongoing efforts to address market challenges and strengthen its strategic partnerships.
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