Okta: Emerging as the Identity Control Plane for Enterprise AI Agents Justifies Buy Rating

Analyst Shrenik Kothari of Robert W. Baird maintained a Buy rating on Okta, retaining the price target of $120.00.

Shrenik Kothari has given his Buy rating due to a combination of factors tied to Okta’s emerging role in securing AI agents as they move from pilots into real production work. He views the “Okta for AI Agents” launch as a strategically important product that places identity at the center of governing autonomous digital workers, allowing enterprises to assign clear ownership, enforce policies, and maintain accountability at scale.

He also highlights early customer validation, such as Dell’s plans to issue and manage digital identities for every AI agent, even those operating on external platforms, as evidence that large enterprises are aligning with Okta’s vision. In Kothari’s view, identity providers like Okta are structurally advantaged to become the control plane for AI agent governance, which can deepen Okta’s relevance in the enterprise stack and support durable growth, justifying a Buy rating on the stock.

In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $105.00 price target.