BMO Capital analyst Keith Bachman lowered the firm’s price target on Okta (OKTA) to $132 from $135 and keeps a Market Perform rating on the shares. The firm’s Q1 earnings preview had suggested that Okta would beat on demand-related metrics for the April quarter and likely leave previously provided FY26 revenue guidance in place, though it had also anticipated “more upside”, the analyst tells investors in a research note. BMO adds however that it continues to think that FY26 revenue guidance is conservative based on cRPO build and that Okta has a solid long-term opportunity with the growth of non-human identities.
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