DA Davidson raised the firm’s price target on Okta (OKTA) to $90 from $75 and keeps a Neutral rating on the shares. The company’s Q3 results saw “strong upside” against “very conservative” guidance, with cRPO – Current Remaining Performance Obligation – up 13% y/y, in line with last quarter, the analyst tells investors in a research note. The firm adds however that Okta’s net new logo adds remain very weak, and its dollar-based net retention rate – DBNRR – declined to 108%, with further declines expected in Q4.
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Read More on OKTA:
- Okta price target raised to $95 from $90 at Citi
- Okta price target raised to $115 from $108 at Stifel
- Okta price target raised to $115 from $100 at Needham
- Okta price target raised to $105 from $95 at Baird
- Okta price target raised to $95 from $85 at Susquehanna
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
