Cowen analyst Shaul Eyal initiated coverage of Okta with a Market Perform rating and $70 price target. Okta is navigating through "a number of self-inflicted pains," as well as growing competitive headwinds, but recent Q3 results indicate stability, Eyal tells investors. The company’s internal execution issues are "reversible and manageable," according to Eyal, who also is "not losing sight of" Okta’s leading market share and the recent consolidation wave sweeping through the IAM arena, which the analyst argues "could yield a positive outcome."
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on OKTA:
- Okta initiated with a Market Perform at Cowen
- Coupa Software upgraded to Sector Perform from Underperform at RBC Capital
- Datadog price target lowered to $93 from $104 at BTIG
- Unusually active option classes on open December 2nd
- Big Moves in the Cloud: Quarterly Results Spur Bullish Software Sentiment