Okta price target raised to $90 from $85 at TD Cowen

TD Cowen raised the firm’s price target on Okta to $90 from $85 and keeps a Market Perform rating on the shares. For fiscal 2025, the firm model a 370 basis points operating margin tailwind as a result of the latest workforce reduction. That said, it expects to see signs of a continued deceleration in Okta’s forward-looking sales growth metrics as the “noise created around its security incidents is creating tailwinds for competitors.”