Okta price target raised to $112 from $100 at Barclays

Barclays raised the firm’s price target on Okta (OKTA) to $112 from $100 and keeps an Equal Weight rating on the shares. The company’s fiscal Q2 “clean” remaining performance obligation growth of 14% year-over-year was inline with Barclays’ upside scenario, the analyst tells investors in a research note. The firm believes Okta’s increased fiscal year revenue guidance outlook of 11% growth removes conservatism.