Okta price target raised to $94 from $80 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Okta to $94 from $80 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 results, with better than expected revenue, CRPO, and free cash flows. The solid quarter and guide are unlikely to alleviate investors’ focus on the competitive landscape, but the concerns around both execution and durability have been reduced, the firm tells investors in a research note.