Okta price target raised to $110 from $90 at Piper Sandler

Piper Sandler analyst Rob Owens raised the firm’s price target on Okta (OKTA) to $110 from $90 and keeps a Neutral rating on the shares. Solid cRPO growth and success with new products punctuated a solid overall quarter, the firm says. The full year guidance midpoints were also raised on both the top- and bottom-line. While Piper was impressed by the strong execution in Q4, a new GTM motion to start the fiscal year presents some level of near-term uncertainty in its view.