Okta, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Keith Bachman from BMO Capital maintained a Hold rating on the stock and has a $90.00 price target.
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Keith Bachman has given his Hold rating due to a combination of factors, balancing improving fundamentals with constrained upside potential. He acknowledges that channel feedback on Okta’s recent quarter is constructive and that partners see the company as well positioned over time, including in emerging areas like securing AI agents, but he also notes gaps in behavioral governance capabilities and a long runway before broader agent-related demand materializes.
He further points out that while Okta’s identity governance offering is gaining momentum, most of this comes from existing customers rather than new client wins, signaling only modest expansion power. Taken together with a history of uneven execution and only gradual traction in newer products, Bachman concludes that both earnings and valuation have limited room to move significantly higher in the near term, justifying a Hold rather than a more positive rating.
In another report released on February 7, TipRanks – xAI also reiterated a Hold rating on the stock with a $89.00 price target.