Okta gets rating upgrade at Canaccord
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Canaccord Genuity upgraded Okta (NASDAQ:OKTA) from Hold to Buy, raising the price target from $115 to $120, citing favorable risk-reward. Analysts noted Okta's strong Q1 performance and anticipated continued momentum into Q2. They acknowledged past performance issues but see potential improvements in Privileged Access Management and Identity Governance. The analysts view Okta as a unique identity security platform with acquisition potential following recent competitive mergers.
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