Okta price target raised to $110 from $90 at Jefferies

Jefferies analyst Joseph Gallo raised the firm’s price target on Okta to $110 from $90 and keeps a Hold rating on the shares after Q4 results exceeded expectations, driven by large deal traction as the cyber incident overhang was less impactful than feared. Q1 and FY25 top line guidance “remains abundantly prudent,” says the analyst. While Q4 was “a great step towards reinvigorating growth,” shares “feel fair” where they were trading in the after-hours for “a low to mid teens grower,” the analyst tells investors.