Aug. 19 at 10:43 AM
$OKTA Okta price target raised to
$165 from
$120 at Truist
Truist analyst Junaid Siddiqui raised the firm's price target on Okta to
$165 from
$120 and keeps a Buy rating on the shares as part of an off-cycle software earnings preview. The "setup appears constructive" as cyber spending remains resilient, the analyst tells investors in a research note. However, Truist says cyber budgets are becoming more concentrated around identity security, cyber resilience, AI governance, data security, and platform consolidation. The firm favors Rubrik and Sailpoint heading into earnings, saying both are positioned for "beat-and-raise quarters."
