Stifel analyst Adam Borg upgraded Okta to Buy from Hold with a price target of $90, up from $60. Stifel’s firm’s survey of 37 current customers reveal "generally happy" clients who support Okta’s broader identity swim-lane convergence strategy, the analyst tells investors in a research note. The firm believes the stock’s current valuation creates a positive setup and risk/reward as Okta "steadies execution against already de-risked" 2023 sales guidance.
Published first on TheFly
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