TD Cowen analyst Shaul Eyal maintained a Hold rating on Okta today and set a price target of $115.00.
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Shaul Eyal has given his Hold rating due to a combination of factors influencing Okta’s current market position. The company’s recent performance in the Identity & Access Management (IAM) sector remains strong, with solid trends observed in the industry. However, there are concerns regarding management’s previous commentary about uncertainty, which could impact future growth. Despite a positive start to FY26 with better-than-expected first-quarter results, Okta’s guidance for the second quarter shows revenue and growth projections slightly below expectations, reflecting caution due to macroeconomic uncertainties.
While Okta’s new products have shown promising traction, contributing significantly to bookings, the company’s outlook remains cautious. The exposure to federal spending and broader economic fears could lead to potential deal delays, adding to the uncertainty. As a result, Shaul Eyal maintains a Hold rating, waiting for further clarity from management and additional market developments before considering a change in recommendation.
In another report released today, Barclays also maintained a Hold rating on the stock with a $100.00 price target.