Okta Stock Soars on Strong AI Interest and Raised Price Targets
Okta's stock price surged 4% to $202 on Tuesday after several major investment firms raised their price targets for the identity security company.
Morgan Stanley analyst Meta Marshall upgraded her target to $245 from $200, citing strong interest in Okta's AI Agent products at the Oktane 2026 conference. Scotiabank also increased its target to $245 from $190, with its analyst noting that only 10% of customers surveyed had signed contracts for the product so far.
The firm expects AI agents to add meaningfully to growth starting in the first quarter of fiscal 2028. Okta's market capitalization stands at $34.12 billion, and its stock has risen 166% over the past six months. However, InvestingPro analysis suggests that the stock may be overvalued compared to its fair value estimate.