Okta price target raised to $103 from $100 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Okta to $103 from $100 but keeps a Market Perform rating on the shares. Thecompany delivered healthy RPO, or remaining performance obligations, growth, consistent with last quarter, with strong execution on enterprise deals, the analyst tells investors in a research note. While uncertainty remains for upsells, including seat growth, there is potential upside to Okta’s topline in the second half of FY25 given conservative guide, though the firm remains at neutral on concerns about Okta’s ability to execute on the longer-term product expansion strategy, state of competition, and uncertain macro, BMO added.