Okta Stock Jumps On Upgrade From Truist Ahead Of Q2 Earnings

Shares of Okta (OKTA) rose nearly 3% on Monday morning after Truist upgraded the stock to ‘Buy’ from ‘Hold,’ ahead of the company’s second-quarter earnings due after the closing bell on Tuesday.

Okta’s stock edged 0.6% higher in morning trade amid broader market weakness. On Stocktwits, retail sentiment jumped to ‘bullish’ from ‘bearish’ over the past day as chatter also improved to ‘normal’ from ‘low’ levels.

Truist analyst Junaid Siddiqui raised his price target on Okta to $125 from $100, saying the company is nearing an inflection point as seat count and go-to-market pressures ease in the second half of FY26. He added that Okta’s all-in-one identity platform is gaining traction, with growth expected in identity governance and administration (IGA), privileged access management (PAM), and potential upside from Agentic AI.

Okta is expected to report earnings of $0.84 per share on revenue of $711.18 million, according to Stocktwits data. The company’s earnings have consistently surpassed Wall Street estimates for the last four quarters. Okta’s stock has gained more than 15% this year, but fallen nearly 7% over the past 12 months. 

While Truist is more bullish on Okta, Jefferies lowered its price target on the stock to $100 from $105 with a ‘Hold’ rating on the shares last week. The firm said that while it expects the company to beat estimates in the second quarter (Q2), it also expects Okta to lower guidance for the third quarter (Q3). In a note to investors cited by TheFly, Jefferies expressed concern that if this were to happen, it “may raise questions on the FY27 revenue growth trajectory.”

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