Okta Bolsters Cloud Identity Services with Axiom Acquisition Ahead of Q2 Earnings

Okta Inc. has moved to strengthen its cloud identity and privileged access management (PAM) capabilities through the acquisition of Israeli cybersecurity startup Axiom Security. The deal, expected to close in September, will integrate Axiom's cloud-native PAM technology into Okta's platform, enabling unified management of privileged access across on-premise servers, cloud tools, and Kubernetes environments.

Shares of Okta traded marginally lower at $90.91 midday Tuesday as investors await the company's Q2 earnings call scheduled for August 26, 2025. Analysts remain bullish, with Canaccord Genuity raising its price target to $120 and 46 brokerages upgrading their consensus rating to "Outperform." The average price target implies a 31.17% upside from current levels.

The acquisition underscores Okta's commitment to expanding its Israeli development hub, where Axiom's team will be integrated. While financial terms weren't disclosed, the strategic MOVE positions Okta to address growing enterprise demand for comprehensive identity solutions in hybrid cloud environments.