Okta price target raised to $80 from $75 at DA Davidson

DA Davidson raised the firm’s price target on Okta to $80 from $75 but keeps a Neutral rating on the shares. The company’s Q2 results marked a “strong beat”, though its growth is set to continue decelerating over the near term, the analyst tells investors in a research note. Okta’s sales execution continues to modestly improve, but the company’s productivity also “leaves much to be desired”, the firm added, noting that it continues to believe that near-term growth acceleration is unlikely.