Morgan Stanley upgraded Okta (OKTA) to Overweight from Equal Weight with a price target of $97, up from $92. The firm says that while positive on long-term tailwinds in security, it is being more selective into 2025 given a “stable but still tough” spending environment, less favorable U.S. fiscal backdrop and valuation premium versus broader technology. It upgrades Okta believing the demand environment is stabilizing, competitive headwinds appear to be easing, and newer product cycles are begining to take hold.
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Read More on OKTA:
- Is OKTA a Buy, Before Earnings?
- Okta price target lowered to $85 from $105 at JPMorgan
- Workday initiated, Kraft Heinz downgraded: Wall Street’s top analyst calls
- Okta initiated with an Equal Weight at Barclays
- Okta downgraded to Negative from Mixed view at OTR Global
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
