Okta price target raised to $115 from $105 at Baird

Baird raised the firm’s price target on Okta (OKTA) to $115 from $105 and keeps an Outperform rating on the shares. The firm says it made Okta one of its top SMID-cap ideas over the past weekend heading into 2025. With conservative preliminary fiscal 2026 guidance and identity security remaining a budget priority, the company is “primed for substantial upside and higher valuation multiple,” the analyst tells investors in a research note. Baird believes “strong visibility,” a solid execution track record and go-to-market specialization across products position Okta well.