Okta upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Okta (OKTA) to Overweight from Equal Weight with a price target of $90, up from $85. Barclay’s chief investment officer survey indicates identity has moved to the top spending security priority, the analyst tells investors in a research note. The firm believes Okta’s standing is “improving steadily as a vendor expected to see increased spending.” This reflects the company’s “broad exposure to the large identity market, including fast-growing sub-segments,” contends Barclays.