Okta price target raised to $96 from $92 at Scotiabank

Scotiabank raised the firm’s price target on Okta (OKTA) to $96 from $92 and keeps a Sector Perform rating on the shares. The company “handily beat” cRPO targets in Q3 but set an initial revenue guidance for FY26 that implies a momentum deceleration from here, the analyst tells investors. Okta’s operational incidents are weighing on momentum as new business goes elsewhere and existing customers are reticent to deploy more software, the firm adds. While the firm believes Okta is a top vendor in a key area of security, Scotiabank argues it is too early to step back into the stock.