Okta received a coordinated round of bullish analyst updates after Oktane 2026, as firms tied the company’s growth prospects to its effort to become the identity control plane for AI agents. Barclays, Jefferies, Guggenheim and Oppenheimer highlighted product traction, partnerships and sales specialization, while Wells Fargo gained confidence that AI adoption could increase customer spending. BofA raised its target to $220 from $200 while maintaining Neutral, and TD Cowen lifted its target to $200 from $175 while maintaining Hold. Jefferies set the highest cited target at $240, while Barclays and Stifel were at $215. Okta’s market capitalization is roughly $35.07 billion, and new products represented about 30% of bookings in a record Q2 FY27 bookings quarter for a non-Q4. Management forecasts FY27 revenue growth of 10% to 11%, a 26% non-GAAP operating margin and a 28% to 29% free-cash-flow margin, while describing AI’s FY27 contribution as immaterial. The stock was up 142.66% year to date and 60.21% over the past month, bringing its forward price-to-earnings ratio near 52 times and leaving FY28 AI execution as a key test for investors.