Okta shares rise 67% year-to-date as UBS raises its price target, citing potential benefits from agentic AI growth.
UBS analyst Roger Boyd increased Okta Inc.’s (NASDAQ:OKTA) price target to $150 from $115, maintaining a Buy rating. The revision implies a 20% upside from current levels, driven by optimism around the company’s exposure to agentic AI trends.
Okta, an identity and access management firm, has surged 67% year-to-date. However, Mizuho’s Gregg Moskowitz downgraded the stock to Neutral from Outperform on June 2, raising his target to $125 from $110, arguing much of the AI-driven upside is already priced in.
The divergence in analyst targets highlights uncertainty in software valuations amid mixed growth expectations. Okta’s near-term outlook remains under scrutiny despite its recent rally.