Oppenheimer analyst Ittai Kidron raised the firm’s price target on Okta (OKTA) to $135 from $125 and keeps an Outperform rating on the shares. The firm notes Okta delivered strong Q4 results and raised guidance on broad-based momentum, including solid large customer trends, a record Auth0 contribution, and growing product cross-sell activity. Overall, an excellent quarter showcasing Okta’s growing product breadth and gains from sales adjustments, Oppenheimer adds. The firm is bullish and establishing Okta as a top pick, seeing a multi-quarter re-rating growth scenario solely based on the strong sales/portfolio execution.
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