Okta price target raised to $130 from $122 at Evercore ISI

Evercore ISI analyst Peter Levine raised the firm’s price target on Okta (OKTA) to $130 from $122 and keeps an Outperform rating on the shares. Despite “a solid quarter,” results “didn’t quite meet buy-side expectations,” the analyst tells investors. Despite the short-term softness and current guidance that “may fuel bearish sentiment,” the firm argues that the “risk/reward remains compelling for this top-tier identity asset,” adding that any pullback “could be a buying opportunity for those wary of the recent rally.”