Okta price target raised to $85 from $83 at Macquarie

Macquarie raised the firm’s price target on Okta to $85 from $83 and keeps a Neutral rating on the shares after the company reported “a much stronger” fiscal Q2 “across the board,” with better profitability, cash flow generation, and large deals. While the firm reiterates a Neutral rating, the analyst thinks Okta is “due credit for its improving execution.”