Okta stock has climbed 132.5% since mid-March, with the biggest single leg coming on August 27 when shares jumped as much as 21% to $163.88 after a fiscal second-quarter earnings beat. Okta posted revenue of $805 million, up 11% year over year and ahead of the $795.04 million consensus, while adjusted earnings per share of $1.05 cleared the $0.97 estimate, GAAP net income rose to $116 million, and current remaining performance obligations climbed 14% to $2.59 billion. CEO Todd McKinnon said bookings set all-time records for the second, first and third quarters, and at least 18 brokerages raised price targets within days of the print. The same day it reported earnings, Okta closed its acquisition of Permiso Security, a threat-detection platform covering human, non-human and AI agent identities, adding roughly 2,500 risk signals across more than 70 identity partners; management also noted Anthropic named Okta the first identity provider to support Enterprise Managed Auth for Claude's enterprise connectors, feeding dozens of Okta for AI Agents deals, though CFO Brett Tighe said the AI contribution remains immaterial to fiscal 2027 guidance. As of September 18, Okta carried 25 buy ratings, 9 outperforms, 10 holds and 1 underperform, and the 43 analysts publishing price targets had pushed their mean to $186, just 2% above the $182 close, up from $127 three weeks earlier when the mean sat 10% below the share price. TIKR's mid-case model values Okta at $213 by January 2031, implying 17% total return from the current price of $182, or 4% annualized over the next 4.4 years.
Okta Inc