Okta (OKTA) Could Raise Its Fiscal 2027 Guidance Amid Improved Demand And Execution, Says Barclays

Okta, Inc. (NASDAQ:OKTA), featuring a short float of 5.03% and upside potential of 21.50%, earns a spot on our list of the best cloud stocks to buy as Azure growth hits 40%.

On May 14, 2026, Barclays raised its price target on Okta, Inc. (NASDAQ:OKTA) to $93 from $90 while keeping an “Overweight” rating ahead of the company’s May 28 earnings report. The firm said Okta could raise its fiscal 2027 guidance, citing improved demand and execution.

That update followed Barclays’ earlier upgrade of Okta, Inc. (NASDAQ:OKTA) to “Overweight” from “Equal Weight,” when it lifted its price target to $90 from $85.

The firm pointed to its chief investment officer survey, which showed identity moving to the top spending priority within security. Barclays also said Okta, Inc. (NASDAQ:OKTA)’s standing was “improving steadily as a vendor expected to see increased spending,” citing the company’s broad exposure to the large identity market, including fast-growing sub-segments. The stock is up 25% over the past month.

In March, D.A. Davidson had analyzed the company’s Q4 results, saying the quarter and outlook were mostly in line with expectations. Additionally, it highlighted the current remaining performance obligations growth of 12% year-over-year, ahead of 9% consensus. The firm reiterated a “Buy” rating on Okta, Inc. (NASDAQ:OKTA) and set a $110 price target.

D.A. Davidson also pointed to fiscal 2027 subscription revenue guidance of about 10% growth, above 9% consensus, and said the outlook implied more stable subscription growth through the year than previous forecasts. The firm continued to view management’s guidance as conservative, citing improved sales productivity, increased sales capacity, improved product mix, larger deal sizes, and early AI agent contributions.

Okta, Inc. (NASDAQ:OKTA) is an identity partner operating in the United States and around the world. The company offers Single Sign-on,  Adaptive MFA, API Access Management, Access Gateway, Okta Device Access, and Universal Directory. It was founded in 2009 and is based in San Francisco, California.

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