Okta price target raised to $125 from $110 at Oppenheimer

Oppenheimer raised the firm’s price target on Okta to $125 from $110 and keeps an Outperform rating on the shares. The firm notes Okta delivered solid Q4 results, beating estimates and guiding above for Q1 revenue. The results were driven by solid deal momentum for large customers and limited fallout from the recent security breach, Oppenheimer adds. While risks from the breach remain, particularly for upcoming renewals, the firm believes management has accounted for them in the updated guide.