Okta Agentic AI Security Opportunity Could Drive Platform Demand, RBC Says

11:39 AM EDT, 09/24/2026 (MT Newswires) -- Okta (OKTA) could see stronger demand for its identity platform as companies adopt tools to secure artificial intelligence agents, RBC Capital Markets said, after attending the company's "Oktane 2026" conference. The investment firm said in a Wednesday note that the early adoption of "Okta for AI Agents" is already helping generate interest in the wider platform, with products such as "Agent SSO," support for third-party identity providers and the "Blueprint Alliance" standing out. RBC said early deals suggest AI-agent functionality can add roughly 25% to 40% to base platform spending, "though the sample size is still small." Okta's support for third-party identity providers could expand its opportunity among Microsoft's (MSFT) Entra ID customers, creating a potential "land-and-expand" path into governance, privileged access management and customer identity products, according to the report. The investment firm sees Okta as "well positioned" to benefit from growing enterprise demand for AI-agent security, while noting the market is still early and competitive. RBC has an outperform rating on Okta and raised its price target to $230 from $195. Price: 209.82, Change: +4.46, Percent Change: +2.17