Okta (OKTA) shows potential to deliver about 1% to 2% upside to fiscal Q1 revenue estimate of $752 million as partner checks indicate improving momentum through the quarter and an uptick in performance versus plan, Oppenheimer said in a note Tuesday.

The brokerage said its checks were "solid," with several partners describing Okta as their first or second best performing vendor versus plan and highlighting deal wins against Ping and ForgeRock while growing their practice 10% to mid-teens range year-on-year.

Okta for AI Agents, which entered general availability end of April, is viewed as an emerging catalyst for H2 and fiscal 2028, analysts said, adding that their checks showed a number of deals already in the pipeline.

The brokerage said it has "incremental confidence" in the company's go-to-market efforts and expects fiscal Q1 to benefit from a stable foundation and specialized sales reps focused on the largest enterprise cohort.

Okta is scheduled to report its fiscal Q1 results on May 28.

Oppenheimer maintained its outperform rating on the stock and a $110 price target.

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