BMO Capital analyst Keith Bachman raised the firm’s price target on Okta (OKTA) to $69 from $58 and keeps an Outperform rating on the shares after its Q3 earnings beat. Microsoft (MSFT) will continue to serve as an overhang for the stock, but its multiple is still "too low" at present, the analyst tells investors in a research note, adding that Okta management’s guidance is also "very conservative".
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Published first on TheFly
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