In a report released yesterday, Meta Marshall from Morgan Stanley maintained a Buy rating on Okta, with a price target of $123.00.
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Meta Marshall has given his Buy rating due to a combination of factors that highlight Okta’s strategic positioning and growth potential. The company’s recent AI-related product announcements are seen as a positive step towards identity standardization, which is a key focus area for Okta. By integrating various identity security solutions under one platform, Okta is positioning itself as a comprehensive provider in the identity security market, which could drive future growth.
Moreover, the company’s efforts to create a unified platform through AI initiatives are expected to reinvigorate long-term growth, despite the fact that significant revenue from these innovations might not materialize until 2026. The focus on larger, more complex customers and the potential for a new monetization strategy through AI agents further support the positive outlook. These strategic moves, combined with the company’s expansive product portfolio, underpin the attractive value proposition that justifies the Buy rating.
According to TipRanks, Marshall is a 4-star analyst with an average return of 5.6% and a 58.97% success rate. Marshall covers the Technology sector, focusing on stocks such as Arista Networks, SailPoint, Inc., and Corning.
In another report released yesterday, BTIG also reiterated a Buy rating on the stock with a $142.00 price target.