Okta price target raised to $122 from $95 at Stifel

Stifel analyst Adam Borg raised the firm’s price target on Okta to $122 from $95 and keeps a Buy rating on the shares after the company delivered a better-than-expected quarter with all key financial metrics above guidance, Stifel and Street estimates. Management offered Q1 guidance above Stifel and Street expectations as well as raised FY25 guidance “across the board,” notes the analyst, who continues to expect guidance will prove conservative across both the top-line and bottom-line as the year plays out.