Okta price target raised to $109 from $94 at Scotiabank

Scotiabank analyst Patrick Colville raised the firm’s price target on Okta (OKTA) to $109 from $94 and keeps a Sector Perform rating on the shares. The company beat Street forecasts across key metrics and it provided an “impressive” Q1 guidance, the analyst tells investors. Okta “undoubtedly had a great quarter,” but the firm is now looking for signs of its ability to deliver sustained top-line acceleration.