Okta price target raised to $124 from $100 at BTIG

BTIG analyst Gray Powell raised the firm’s price target on Okta to $124 from $100 and keeps a Buy rating on the shares after its Q4 earnings beat. Investor sentiment on Okta has been predominantly negative since the company’s security breach in late October and there was a good amount of uncertainty around the residual impact from the event, though while there was probably some impact in Q4, most likely in new customer additions, the implications appear to be relatively small and gradually fading into the rear-view mirror, the analyst tells investors in a research note.