Guggenheim Securities raised its price target on Okta Inc. to $188 from $162 while maintaining a Buy rating, citing the company’s second-quarter fiscal 2027 results and upwardly revised guidance.
The identity and access management provider reported adjusted earnings of $1.05 per share, exceeding the consensus estimate of $0.97, and revenue of $805 million. Okta’s stock was trading at $134.42, giving the company a market capitalization of $23.36 billion. Gross profit margins stood at 77.44%, according to InvestingPro data.
New Annual Contract Value growth exceeded 50%, and the company raised its annual free cash flow guidance despite a third-quarter forecast that came in slightly below consensus. Third-quarter revenue guidance also came in above Wall Street expectations.
BMO Capital raised its price target to $187, while Stifel and Citizens both lifted their targets to $180. Mizuho adjusted its target to $165 while maintaining its rating.
