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Okta Poised for Sustainable Revenue Acceleration, Macquarie Equity Research Says

MT Newswires Live09-26

Okta (OKTA) is poised for sustainable revenue acceleration, with its Okta for AI Agents expected to gain traction in the agentic identity market and cross-selling opportunities related to Agent SSO, Macquarie Equity Research said in a note Thursday.

The company recently unveiled innovations to its offerings and new Okta for AI Agents capabilities, the investment firm noted.

Okta also launched the multi-vendor coalition Blueprint Alliance, which is intended to establish an open architecture governing agentic AI, Macquarie said.

Okta claimed that its market share as an identity provider remains stable at about 30% and agentic identity protection presents a significant opportunity as its "next wave" of growth, according to the note.

Macquarie Equity Research raised the price target on Okta to $240 from $185, with an outperform rating.

Okta shares were 3.9% lower in Friday trading.

Price: 198.59, Change: -8.05, Percent Change: -3.90

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