Okta price target raised to $110 from $100 at Mizuho

Mizuho raised the firm’s price target on Okta (OKTA) to $110 from $100 and keeps a Neutral rating on the shares as part of a January quarter earnings preview for enterprise software. The market very much remains in “risk on” mode, and software sentiment has up-ticked as well, the analyst tells investors in a research note. The firm says its fundamental checks for the January period back this up. The checks indicate improving demand pattern inputs across software, including data analytics and software-as-a-service, and with cybersecurity remaining strong, contends Mizuho. The firm’s favorite January-ending stocks to own ahead of the earnings are Salesforce (CRM), Palo Alto Networks (PANW), and Snowflake (SNOW).