Okta price target raised to $95 from $90 at Citi

Citi raised the firm’s price target on Okta (OKTA) to $95 from $90 and keeps a Neutral rating on the shares following the Q3 report. The firm says “encouraging signs of fundamental reinvigoration” and the shares lagging year-to-date will likely drive a “relief rally.” However, with profitability “looking capped” and a still “show-me” execution narrative, Citi awaits a tangible growth inflection and visible new monetization to become constructive on the stock, the analyst tells investors in a research note.