Okta Fiscal Q2 Revenue Could Top Guidance as Sales Execution Improves, Oppenheimer Says

Okta agreed to acquire identity-security startup Permiso for about $200 million, strengthening its identity threat protection for human, machine and AI-agent identities. Ahead of its earnings report on Aug. 26, the stock trades at 86.15x forward P/E. In Q1 FY2027, revenue rose 11% to $765M and non-GAAP EPS rose to $0.91. Q2 guidance: revenue $790M-$794M, non-GAAP EPS $0.95-$0.97. Oppenheimer raised its price target to $170 and KeyBanc to $175.

Dynatrace will acquire Arize for $915m in cash and stock, including about $815m in cash and replacement equity awards, to expand AI observability. IGEL partnered with Menlo Security for zero-trust browser access. MongoDB made Atlas available via an MCP server for tools like Claude Code. Okta said an AI agent feature can cut token costs up to 89%.

Citizens JMP Securities upgraded Okta to Market Outperform and raised its price target to $170, citing rising enterprise demand for identity controls as AI agents expand. The firm links AI security to authorization, privilege management, and activity monitoring, and expects Okta to broaden into governance and threat detection. For the July quarter, it forecasts $791.7M revenue and 94 cents EPS.

From July 27-31, 2026, Cyera, Okta, and venture investors announced five deals totaling over $1.37B focused on identity governance and runtime control for autonomous AI agents. Cyera agreed to buy Oasis Security for about $1.0B, Okta to buy Permiso for about $200M, Onyx raised $113M, Inforcer $50M, and Cantina launched with $8M.

Okta said it plans to acquire identity security startup Permiso to expand its Identity Threat Detection and Response beyond Okta telemetry into broader enterprise identity platforms. Okta said Permiso provides 2,500+ risk signals across 70+ identity platforms. Permiso has 56 employees and raised $28.5 million, including an $18.5 million Series A in April 2024.

Okta signed a definitive agreement to acquire Permiso Security, a cloud-native identity security platform. Okta says the deal will add identity threat detection and response across human, non-human, and agentic identities, including Permiso’s SandyClaw sandbox detonation for AI agent skills. The transaction is expected to close in Q3 of Okta’s fiscal 2027 and is expected to not affect guidance issued May 27, 2026.