Okta Receives Multiple Upgrades After Strong Earnings, Price Targets Raised to $125, $130, and $110

Okta Inc. has received multiple upgrades from various financial institutions following a strong earnings report that exceeded expectations. The company's CEO described the quarter as a 'blowout' and expressed confidence in future growth, stating, 'we expect more blowout quarters like this, we’re not here to be a slow growing company.' Analysts have raised Okta's price target significantly, with D.A. Davidson increasing it to $125 from $90, and other firms such as Piper Sandler and Baird also raising their targets to $110 and $130, respectively. The stock has reportedly surged more than 40% in response to the positive outlook. In the broader market, futures were noted to be drifting lower, with various companies receiving adjustments in their price targets, including Electronic Arts, Take-Two Interactive, and Chipotle Mexican Grill, among others.