Okta price target lowered to $140 from $145 at DA Davidson

DA Davidson analyst Rudy Kessinger lowered the firm’s price target on Okta (OKTA) to $140 from $145 but keeps a Buy rating on the shares. The company delivered a strong Q1 beat on all metrics with 14% cRPO – current remaining performance obligations – growth vs. guidance and consensus of 12% but guided Q2 CRPOs below consensus and only reiterated FY26 growth outlook of 9%-10% as guidance now factors in potential risks from the uncertain macro environment in spite of the management noting that Q1 was not negatively impacted by a worse macro, the analyst tells investors in a research note. The firm adds however that if Q1 macro conditions persist, upside is very likely, noting that FY26 growth guidance continues to look “very conservative”.