Okta's (OKTA) solid Q1 results likely initiate a beat-and-raise motion for fiscal 2027 with revenue forecasts poised for sequential quarterly acceleration post Q2, Oppenheimer said in a Friday research report.

The company's guidance is conservatively positioned, given sustained new-product momentum, maturing investments, and the expanding AI agents opportunity, analysts wrote.

The company delivered a Q1 beat driven by sales productivity gains, large-deal momentum, and pipeline growth, according to the note.

The company's new AI identity offerings are also driving "palpable" client interest as pricing becomes clearer, according to the brokerage.

Oppenheimer reiterated its outperform rating on the stock and boosted its price target to $125 per share from $110.

Price: 117.00, Change: +22.28, Percent Change: +23.52