Guggenheim raised the firm’s price target on Okta (OKTA) to $140 from $130 and keeps a Buy rating on the shares ahead of the company reporting fiscal Q1 earnings on Tuesday, May 27. The firm believes Okta will exceed fiscal Q1 consensus subscription and total revenue estimates and will most likely beat Street cRPO estimates, as the company has in prior quarters, says the analyst, who adds that the “numerical setup” appears favorable for revenue guidance.
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