Okta upgraded to Outperform from Neutral at Mizuho

Mizuho analyst Gregg Moskowitz upgraded Okta (OKTA) to Outperform from Neutral with a price target of $127, up from $110. The company reported an “incredibly robust” Q4, driven by remaining performance obligation growth of 15% year-over-year that “crushed guidance,” the analyst tells investors in a research note. The firm says Okta continues to be a clear leader in the “critically important” identity management market. Mizuho now has a higher confidence level that the company will increasingly benefit from its group of newer products that have already begun to drive a meaningful contribution.