Okta Price Target Cut by Analysts at Canaccord Genuity Group

Analysts lowered Okta's price target from $120 to $95, maintaining a 'buy' rating on the stock.

Mar. 5, 2026 at 9:23pm by

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Canaccord Genuity Group has decreased its price target on Okta (NASDAQ:OKTA) from $120.00 to $95.00, while maintaining a 'buy' rating on the stock. The analysts cited the company's recent financial results and outlook as the reason for the price target reduction.

Why it matters

Okta is a leading provider of identity and access management solutions, and its stock performance is closely watched by investors in the cybersecurity and enterprise software sectors. The price target cut by Canaccord Genuity Group reflects some uncertainty around Okta's near-term growth trajectory, which could impact investor sentiment and the stock's valuation.

The details

In a research report, Canaccord Genuity Group analysts noted that Okta's recent quarterly results and guidance contained both positive and negative elements. While the company beat revenue expectations and showed strong subscription momentum, its forward guidance for revenue growth was seen as slightly cautious, leading to the price target reduction.

  • Canaccord Genuity Group issued the updated price target and rating on Thursday, March 5, 2026.

The players

Okta

An American identity and access management company that provides cloud software to authenticate and secure user access.

Canaccord Genuity Group

A global financial services firm that provides investment banking, advisory, equity research, sales and trading services.

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What’s next

Okta's stock performance and growth trajectory will continue to be closely monitored by analysts and investors in the coming quarters, as the company navigates the competitive identity and access management market.

The takeaway

Okta's mixed quarterly results and guidance have led to some uncertainty around the company's near-term growth prospects, reflected in the price target cut by Canaccord Genuity Group. However, the analysts maintained a 'buy' rating, indicating their belief in Okta's long-term potential as a leader in the identity and access management space.