Report published August 27, 2026
Okta (OKTA): Goldman Sachs Highlights Agent Identity Growth and Raises Price Target to $203
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Gabriela Borges, Callie Valenti, Max Gamperl
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs reiterated its Buy rating on Okta and raised its 12-month price target to $203 from $126 following a 2QFY beat across revenue, cRPO, and margins. Early traction with Okta for AI Agents and 14% cRPO growth provide strong visibility toward accelerated top-line expansion in FY28.
Key Takeaways
- 1.Okta reported strong 2QFY results with revenue, cRPO, and EBIT margins beating Street consensus, driven by emerging momentum in agentic AI identity solutions.
- 2.Okta is seeing initial commercial success with its AI agent offerings, closing several >$1mn deals for Okta for AI Agents, setting up potential acceleration in FY28.
- 3.Goldman Sachs maintains a Buy rating and raises its 12-month price target to $203 (from $126) based on higher peer multiples in the AI-benefiting cybersecurity category.
Table of Contents
- Key Data
- GS Forecast
- GS Factor Profile
- Ratios & Valuation
- Growth & Margins (%)
- Price Performance
- Income Statement ($ mn)
- Balance Sheet ($ mn)
- Cash Flow ($ mn)
- EPS Recap
- Valuation & Risks
- Disclosure Appendix
Report data
Exhibit 1: Actuals vs. Estimates — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 12-Month Price Target | 203.0 USD | Raised from $126.00 to $203.00 |
| 2Q Total Revenue | 805.0 USD mn | Beat Street estimates by 1.5% and grew 11% yoy |
| cRPO Growth | 14.0% | cRPO reached $2,585mn, beating Street estimate of 11% growth |
| Net Retention Rate (NRR) | 107.0% | Maintained at 107% after inflecting up in prior quarter |
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- 12-Month Price Target: 203.0 USD (12m forward) · Source: Goldman Sachs Global Investment Research
- 2Q Total Revenue: 805.0 USD mn (2Q27A) · Source: FactSet, Company data
- cRPO Growth: 14.0 % (2Q27A) · Source: FactSet, Company data
- Net Retention Rate (NRR): 107.0 % (2Q27) · Source: Company data
Securities
Themes
Regions
Browse More
Related Reports
Pulp & Paper: Some Hardwood Momentum Building Into 4Q
September 8, 2026
GDP Declines in Downside Surprise in Q2, Dragged by Net Exports
September 8, 2026
Asia Leaders Conference 2026 Takeaways: Beisen CFO Visits
September 8, 2026
Chile: Higher-Than-Expected Inflation Driven by Non-Core Pressures
September 8, 2026
SECO: First Take 2Q26
September 8, 2026