Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Okta to $95 from $85 and keeps an Overweight rating on the shares. The firm notes Okta reported solid top-line results and showed significant improvements in operating profit and cash flow. While CRPO guidance was modestly below expectations, shares of Okta traded up about 10% after market close, Wells notes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on OKTA:
- Okta’s (NASDAQ: OKTA) Impressive Q2 Performance Triggers Analyst Applause
- Okta upgraded to In Line from Underperform at Evercore ISI
- What’s Ahead for Okta Shareholders After a Roller Coaster Ride?
- Okta raises FY24 adjusted EPS view to $1.17-$1.20 from 88c-93c
- Okta sees Q3 adjusted EPS 29c-30c, consensus 22c