Okta price target raised to $85 from $71 at MoffettNathanson

MoffettNathanson raised the firm’s price target on Okta to $85 from $71 and keeps an Underperform rating on the shares. The company reported better than expected results for the seasonally strong Q4 and a modest increase on the fiscal 2024 revenue outlook relative to consensus, the analyst tells investors in a research note. However, Okta’s sales leadership transition that had been announced "really just starts now," says the firm.