Okta Price Target Raised to $240 on Strategic Pivot to AI Security

Key Facts

1Jefferies analysts raised Okta's price target to $240 from $200, maintaining a positive outlook.

2Okta launched the 'Blueprint Alliance' with CrowdStrike and Salesforce to standardize AI agent security.

In a move reflecting the rapid expansion of AI-driven cybersecurity, Jefferies analysts raised Okta's price target to $240 from $200 while maintaining a positive outlook. This adjustment follows the launch of the 'Blueprint Alliance' with partners CrowdStrike and Salesforce, aimed at standardizing security for AI agents. According to reports, CEO Todd McKinnon believes this emerging market could eventually surpass the traditional identity management sector as the company seeks to manage the risks of AI agents accessing corporate systems.

This strategic pivot occurs as alliance partners maintain steady market levels, with Salesforce (CRM) closing at $237.58 and CrowdStrike (CRWD) at $262.49 per market data on September 23, 2026. The collaboration underscores Okta's ambition to become a foundational layer of the AI technology stack, with management predicting that market leadership in agent identity management will be established within the next three years.

From a technical perspective, CRM closed at $237.58 (close September 23, 2026) after trading between a day low of $234.24 and a high of $241.12. Looking ahead, traders are monitoring upcoming US Industrial Production data for broader signals regarding the health of the technology sector and corporate capital expenditure.