Okta price target raised to $105 from $80 at Macquarie

Macquarie raised the firm’s price target on Okta to $105 from $80 and keeps a Neutral rating on the shares after the company posted a “strong beat” on revenue and profitability as concerns about retention headwinds from breaches were alleviated during Q4. Okta’s focus on security paid off as reputational risk has “evidently subsided,” the analyst tells investors in a post-earnings note.