Okta price target raised to $102 from $70 at Evercore ISI

Evercore ISI analyst Peter Levine raised the firm’s price target on Okta to $102 from $70 and keeps an In Line rating on the shares. Okta delivered “strong” Q4 results against tempered expectations along with a tone that “sounded a lot more upbeat” than what was heard in late November, says the analyst, who adds that fall out from the breach is “sounding like a non-event.” Based on what the firm heard in early February, commentary suggested Q1 pipelines were trending just as strong as what they saw in Q4, which gives Evercore “a bit more confidence that numbers are conservative,” the analyst added.