BMO Capital upgraded Okta (OKTA) to Outperform from Market Perform with a price target of $97, up from $83. The firm has increased confidence in the company’s revenue growth durability. BMO believes identity management is “critical for agent adoption” and thinks Okta will be one of the companies that benefits from agent growth. Identity and access management will become key enablers of agent adoption over the next several years, contends the firm.
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