Okta Faces Emerging AI Opportunity, Oppenheimer Says

MT newswire2026/08/27 16:05

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12:05 PM EDT, 08/27/2026 (MT Newswires) -- Okta (OKTA) faces an emerging artificial intelligence opportunity, with the "Okta for AI Agents" service expected to be a key driver, Oppenheimer analysts said in a Thursday note. Analysts said that while Okta's AI-product revenue is still immaterial, it's contributing to new product momentum. Oppenheimer said the company's "strong" results in fiscal Q2 beat investor expectations, benefiting from broad-based demand. Analysts said that the company highlighted growing momentum in artificial intelligence, noting dozens of AI deals in fiscal Q2 and signs of AI driving consolidation opportunities. Oppenheimer retained an outperform rating on the stock and increased its price target to $190 from $170. Shares of the company were up 26% in Thursday trading. Price: 170.48, Change: +36.06, Percent Change: +26.83

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On Tuesday, following Federal Reserve Governor Waller’s call to consider a 50 basis point rate hike at the December meeting, this year’s FOMC rotating voting member Lorie Logan reiterated a hawkish stance, stating, "Given the current economic outlook, I believe at least two more rate hikes of 25 basis points each are needed. The pace of rate hikes this winter may be faster than what we have seen so far this autumn." On Tuesday, the two-year US Treasury yield jumped 19 basis points in a single day, reaching 4.74%.

华尔街见闻•2026/11/10 19:52