Stifel Raises Okta Price Target to $130 Following Strong Q1 Performance

On May 28, Stifel bumped up its price target for Okta, Inc. (NASDAQ:OKTA) to $130 from $120. The firm also reiterated a Buy rating on the shares. This adjustment comes hot on the heels of Okta’s Q1 2026 results, which exceeded both company guidance and analyst expectations.

Okta’s (NASDAQ:OKTA) Q1 revenue jumped by 12% year-over-year to $688 million, with the largest share of the growth emanating from increased subscription revenue. The company posted a record GAAP operating income of $39 million, compared to a GAAP operating loss of $47 million in Q1 2025.

According to management, the solid start to FY26 is thanks to the world’s biggest organizations turning to the company to “solve identity security across their workforces, customers, and AI use cases.” Stifel analysts also noted this fact as one of many positive aspects in Okta’s earnings report. The others include early signs of successful go-to-market strategy changes, increased traction with Auth0 and new logos, and continued momentum across newer product offerings.

Okta, Inc. is the leading independent identity management company. It provides secure, cloud-based solutions to help organizations control who can access their apps and data. Its key products include tools for Single Sign-On (SSO), Multi-Factor Authentication (MFA), and user lifecycle management.

While we acknowledge the potential of Okta, Inc. (NASDAQ:OKTA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OKTA and that has 100x upside potential, check out our report about the cheapest AI stock.

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