Okta price target raised to $106 from $97 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Okta (OKTA) to $106 from $97 and keeps an Overweight rating on the shares following a “solid Q3” that featured an acceleration in cRPO bookings and topline beat that was better than expected. The company’s preliminary calendar 2025 outlook for 7% revenue growth “appears conservative,” says the analyst, who sees easing down-sell pressures and ramping new products leading to double digit growth in an upside scenario.