OKTA Stock Pulls Back From 4-Year High Despite Three Price Target Hikes: Jefferies Sees ‘More Pronounced’ Growth By 2027

• Jefferies raised its target to $240 from $200 and maintained a ‘Buy’ rating, while Barclays lifted its target to $215 from $180.
• TD Cowen raised its target to $200 from $175 but maintained a ‘Hold’ rating.
• Analysts highlighted Okta’s push into agentic security, including its Blueprint alliance and efforts to monetize products designed to secure AI agents.

Okta (OKTA) shares edged lower in early morning trade on Thursday despite three Wall Street firms raising their price targets after the company's Oktane conference, where Okta laid out its push into securing AI agents, an emerging category often called agentic security.

In a note to investors cited by TheFly, Jefferies was the most bullish of the three, lifting its price target on Okta’s shares to $240 from $200 with a ‘Buy’ rating. Meanwhile, Barclays raised its price target on OKTA stock to $215 from $180 and kept a ‘Overweight’ rating on the shares.

TD Cowen analyst Shaul Eyal raised his target to $200 from $175, the smallest increase of the three, while maintaining a ‘Hold’ rating rather than upgrading

OKTA stock edged 0.6% lower in pre-market trade amid broader market weakness after hitting an over four-year high of over $207 in the previous session. On Stocktwits, retail sentiment around the firm improved to ‘neutral’ from ‘bearish’ territory over the past day. 

Okta Builds Out Agentic Security Strategy

The analyst updates followed Okta’s Oktane conference, where the company highlighted new efforts to secure AI agents and expand its identity platform into emerging agentic AI use cases.

Barclays pointed to Okta’s newly announced Blueprint alliance, early moves toward monetizing its agentic products and a restructured sales force built around specialization. The firm said those initiatives suggest Okta’s AI strategy is moving beyond a conceptual pitch and toward products and go-to-market plans that could generate revenue.

Okta Could Have A ‘More Pronounced’ Growth Cycle By 2027

Jefferies also said its channel checks confirmed that identity management is becoming central to how enterprises approach securing AI agents. The firm identified customer confusion as the biggest hurdle to adoption.

Okta’s Blueprint framework is designed to help customers navigate that complexity, Jefferies said, adding that momentum around AI agents could support a "more pronounced" growth cycle by 2027.

TD Cowen Sees A New Entry Point, But Still on ‘Hold’

TD Cowen’s Eyal said Okta’s new AI products could provide a fresh entry point for customers into its broader identity platform.

He also pointed to Okta’s work with partners around common architecture standards for securing agentic AI applications, which could help establish a broader ecosystem around the company’s technology.

TD Cowen’s price target of $200 implies an over 2% drop from Wednesday’s close, while Jefferies’ price target implies a potential upside of over 17% and Barclay’s price target implies an around 5% gain.

OKTA stock has more than doubled year-to-date.

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