Okta price target raised to $100 from $90 at Needham

Needham analyst Alex Henderson raised the firm’s price target on Okta to $100 from $90 and keeps a Buy rating on the shares. The company’s Q4 results were "strong" as revenue rose 33% and with continued improvement in the go-to-market execution driving the earnings beat, the analyst tells investors in a research note. The firm further cites Okta’s Enterprise customers with over $100K in ARR growing 27% from last year, with the company also noting no real change in sales cycles or discounting.