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StocksMediumUpdated×2•Originally published 16 April 2026•Updated 17 April 2026•

1 min read

Okta Shares Surge 4% as Raymond James Upgrades Stock to Outperform

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Key Facts

1Raymond James upgraded Okta stock to 'Outperform' with a price target of $85.

about 2 months ago

Version History

Version 2about 2 months ago

What changed: Added the previous analyst rating (Market Perform) and confirmed the stock's listing on the NASDAQ exchange.

Version 1about 2 months ago

What changed: Updated the percentage gain and closing price to 4.16% and $76.04, while adding context regarding the broader market decline on Thursday morning.

Okta Inc. (NASDAQ:OKTA) shares closed the most recent trading session at $76.04, marking a 4.16% gain following an upgrade by Raymond James from 'Market Perform' to 'Outperform' with an $85 price target. This upward move occurred despite a broader market cooling on Thursday morning, which saw stocks like Groupon and Boston Scientific decline between 1% and 4% after a previous relief rally. Analysts attribute the positive outlook to improving growth fundamentals and projected annual revenue growth exceeding 10% by fiscal year 2027, driven by AI-powered identity security. The report highlights that Okta remains undervalued relative to its prospects within the cybersecurity sector. This performance underscores investor confidence in the NASDAQ-listed company's recovery phase amidst a volatile macroeconomic environment.