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.”
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Read More on OKTA:
- Okta Q1 revenue, cRPO on lower side of buy-side expectations, says Roth Capital
- Okta price target lowered to $138 from $140 at Guggenheim
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- Optimistic Outlook for Okta Amid Strong Financial Performance and Growth in Identity Security Market
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