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Investing.com - Truist Securities has reiterated its Buy rating for Okta, Inc (NASDAQ:OKTA) with a price target of $125.00, following the analyst firm’s attendance at Oktane25, the company’s user conference. The identity management company, currently trading at $89.73, shows strong fundamentals with impressive gross profit margins of 77% and a healthy balance sheet according to InvestingPro data.
The firm noted that Okta highlighted new agentic security products during the conference and further articulated its vision of a unified identity platform.
Truist Securities expressed encouragement regarding Okta’s agentic AI roadmap and indicated an incrementally positive outlook on the company’s ability to continue innovating in the identity security space.
The firm believes Okta is approaching an inflection point where current challenges from seat count pressure and go-to-market changes should begin to diminish in the second half of 2026.
Truist Securities maintained both its Buy recommendation and $125 price target for the identity and access management company based on these observations from the conference.
In other recent news, Okta, Inc. reported its second-quarter fiscal 2026 results, showcasing a 13% year-over-year revenue growth, which surpassed the estimated 10%. The company also experienced an 18% increase in its remaining performance obligations and reported strong cash flow of $167 million, exceeding the expected $143 million. Amid these developments, TD Cowen reiterated its Hold rating with a $115 price target. Meanwhile, BofA Securities maintained its Underperform rating on Okta, citing concerns about peak business momentum and setting a $75 price target.
Following Okta’s annual user conference, Oktane 2025, both DA Davidson and Stifel reiterated their Buy ratings, with price targets of $140 and $130, respectively. The conference highlighted Okta’s new platform capabilities, including "Okta for AI Agents," aimed at securing AI agents and addressing AI-powered fraud risks. These capabilities are set for early access in the first quarter of fiscal year 2027, with general availability expected later that year. The announcements reflect Okta’s ongoing efforts to expand its Identity Security Fabric across multiple identity pillars.
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