Okta initiated with an Equal Weight at Stephens

Stephens initiated coverage of Okta (OKTA) with an Equal Weight rating and $127 price target The firm views identity security as one of the most attractive secular growth areas in security and believes Okta is well-positioned as the largest, independent identity management and security provider measured by both revenue and customer count. However, though the firm does see potential for improved growth, it views the current risk/reward as being neutral, the analyst added.