Okta price raised to $96 from $75 at Needham

Okta price target raised to $96 from $75 at Needham

“Needham analyst Alex Henderson raised his price target on Okta to $96 and kept his Buy rating after its narrower than expected Q4 earnings loss, better than expected margins and cash flows, and a 53% subscription growth that “sharply” exceeded forecasts. Henderson maintains his view of Okta as one of his “top recommendations in Security based on the strategic position and criticality of Okta to cloud-zero trust security” products, adding that he is also encouraged by the company’s accelerated investment at the expense of its outlook for lower than anticipated margins.”

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