Okta rises after Jefferies upgrades to 'buy'

Cybersecurity firm Okta's OKTA.O shares rise 1.4% to $89.45 premarket after Jefferies upgrades to "buy"

Brokerage raises PT to $125 from $90, an upside of nearly 42% to stock's last close of $88.20

Expects FY27 adj. EPS of $3.80, higher than Street consensus of $3.66

Says it sees strong growth cases for the identity and cloud markets heading into 2026

Sees Okta as a first-mover in addressing identity challenges created by agentic AI

16% of respondents in brokerage's survey expect identity businesses to grow the fastest in 2026

Jefferies names Okta peers Palo Alto Networks PANW.O, Zscaler ZS.O, AvePoint AVPT.O and Crowdstrike CRWD.O as top picks

As of last close, stock up nearly 12% YTD