Okta price target raised to $110 from $85 at Piper Sandler

Piper Sandler raised the firm’s price target on Okta to $110 from $85 and keeps a Neutral rating on the shares. The firm says Q4 results outperformed the conservative setup provided last quarter, with minimal immediate impacts on the business as a result of the breach. This should help to alleviate some of the uncertainty surrounding the business in the near-term, though Piper notes that growth pressures have yet to show signs of stabilization.