Okta, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $110.00 price target.
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Mike Cikos has given his Buy rating due to a combination of factors that highlight Okta’s strong performance and promising outlook. The company not only exceeded its guidance for the third quarter of fiscal year 2026 but also raised its full-year forecast, indicating confidence in its ongoing execution.
Furthermore, Okta’s management has shown prudence by withholding fiscal year 2027 guidance until the next earnings call, allowing them to account for execution challenges and seasonal variations. Additionally, Okta is beginning to reap the rewards of a more specialized sales organization, evidenced by improved sales productivity and increased hiring in sales capacity. These positive developments underpin the optimistic outlook for Okta’s future performance.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $125.00 price target.