• An analyst at Jefferies raised Okta's price target to $240 from $200, suggesting a potential upside of 16.87% from its current trading price.
  • Okta (NASDAQ:OKTA) is strategically shifting its focus to securing artificial intelligence (AI) agents, a market CEO Todd McKinnon believes could surpass the current identity management sector.
  • The company launched an industry-wide “Blueprint Alliance” with key partners like AWS, CrowdStrike (NASDAQ:CRWD), and Salesforce (NYSE:CRM) to standardize AI agent security, positioning Okta for significant long-term growth in the new AI technology stack.

Okta (NASDAQ:OKTA) is a leading company specializing in identity and access management (IAM), helping businesses securely connect their employees to technology. On September 24, 2026, an analyst at Jefferies raised their price target for Okta to $240 from $200. With the stock trading at $205.36, this new target suggests a potential upside of approximately 16.87%.

This analyst confidence follows Okta's strategic shift toward securing artificial intelligence (AI) agents. CEO Todd McKinnon states this emerging market has the potential to exceed the current identity management market. As AI agents access more company systems, they create new security and governance risks that Okta plans to address.

At its Oktane 2026 event, Okta detailed its strategy for this new field. The company launched an industry-wide “Blueprint Alliance” with key technology partners, including AWS, CrowdStrike (NASDAQ:CRWD), and Salesforce (NYSE:CRM). This group aims to establish a standard for securing AI agents, giving enterprises necessary visibility and control over their use.

CEO Todd McKinnon predicts that the market share for managing agent identities will be established within the next three years. He views this as a significant long-term investment opportunity with the potential for massive growth. This strategy positions Okta to become a foundational part of the new AI technology stack.

Reflecting recent developments, Okta shares are trading at $205.36, a gain of 4.45% for the day. The stock has a market capitalization of $34.11 billion and has reached a 52-week high of $207.20. Daily trading volume has surpassed 5.46 million shares, showing increased investor interest.