Okta price target raised to $110 from $90 at Jefferies

Jefferies raised the firm’s price target on Okta (OKTA) to $110 from $90 and keeps a Hold rating on the shares after the company delivered significantly better-than-expected Q4 results. New logos remain pressured near term, which is reflected in Q1 guidance for 1% year-over-year cRPO bookings growth implied, but management expects an inflection in the next two to three quarters, the analyst tells investors.