Okta price target raised to $108 from $97 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Okta (OKTA) to $108 from $97 and keeps an Outperform rating on the shares. 2026 is likely to be a year when AI tailwinds become more evident for companies well positioned for enterprise AI adoption, while less prepared peers may remain pressured by the “AI is the death of software” narrative, the analyst tells investors in a research note. Enterprise spending appears to be stabilizing and improving in select areas, with GenAI driving innovation even as management teams remain conservative in early 2026 guidance, the firm says.