On June 30, Okta rose 5.21% in regular trading, trading at $130.83/share, with turnover of $157 million. The stock advanced as multiple investment banks issued upward price target revisions in quick succession.

On the news front, BTIG raised its price target from $119 to $136, Needham lifted its target from $120 to $140, both maintaining Buy ratings. UBS had previously raised its target significantly to $150 from $115. Morgan Stanley highlighted that AI agent identity products offer additional upside catalysts, noting Okta is positioned to become the enterprise identity system of record for AI agents. The wave of upgrades follows Okta's strong fiscal Q1 results in late May, where non-GAAP EPS of $0.91 beat the $0.85 consensus by 7%, and revenue of $765 million topped estimates by $13 million. Management raised full-year guidance, with adjusted EPS now expected at $3.79-$3.87, driven by Agentic AI reshaping enterprise security demand.

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