Okta price target raised to $90 from $75 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on Okta (OKTA) to $90 from $75 and keeps a Neutral rating on the shares. The company reported “strong” Q3 results against “very conservative” guidance, the analyst tells investors in a research note. The frim says that while Okta’s guidance remains conservative, the magnitude of beats should narrow as management is no longer embedding extra conservatism for the October breach. Further growth deceleration into the high-single-digits remains likely for Okta, DA contends