Okta price target raised to $115 from $100 at Needham

Needham raised the firm’s price target on Okta (OKTA) to $115 from $100 and keeps a Buy rating on the shares. The company’s Q3 earnings beat demonstrated improved execution, with solid performance from Large Customers, Partners, and New Products, the analyst tells investors in a research note. The quarter also indicates early signs of product adoption as Okta’s offering has significantly expanded in recent quarters, along with a receding headwind from the “COVID cohort” which is expected to dissipate exiting the first half of FY26, the firm adds.