Okta price target raised to $135 from $125 at KeyBanc

KeyBanc analyst Eric Heath raised the firm’s price target on Okta (OKTA) to $135 from $125 and keeps an Overweight rating on the shares following a strong Q4 beat, consistent with its checks, and FY26 revenue and margin guide above. The firm says Q4 results give it greater confidence in its recent upgrade predicated on identity as a top priority for 2025 and as the segment in security where the gap in organizations security posture is the widest; Okta’s leading position as a consolidator; significant opportunity to expand into IGA with a cloud-first, prescriptive solution for the large greenfield mid-market and an easy-to-use solution for enterprises; and subsiding seat headwinds.