15 AI News Shaping Wall Street Today

Page 2 of 14

13. Okta, Inc. (NASDAQ:OKTA)

Number of Hedge Fund Holders: 47

Okta, Inc. (NASDAQ:OKTA) is a workplace cybersecurity company operating as an identity partner. Its AI-driven features across its Customer Identity Cloud and Workplace Identity Cloud helps clients take control of their digital presence.

On November 19, Barclays initiated coverage of Okta, Inc. (NASDAQ:OKTA) with an “Equal-Weight” rating and $81 price target. According to the analyst, Okta competes rapidly in the growing $20 billion identity and access management (IAM) market. The top two players own 40% of the market. While Microsoft leads in the Workforce IAM sector, Okta embraces the top position in the fast-growing customer IAM sector. Notably, Okta integrates AI-powered capabilities across both its Workforce Identity Cloud and Customer Identity Cloud. Moreover, Barclays is below fiscal 2026 consensus estimates for Okta on revenue.

Page 2 of 14