Analyst Gabriela Borges upgraded the stock to buy from sell and increased her price target to $91 from $71.40.
Goldman Sachs thinks the worst could be over for Okta . Analyst Gabriela Borges upgraded the stock to buy from sell and increased cut her price target to $91 from $77. Her new target implies shares could gain 26.1% in the next 12 months from Friday's close. The identity management software provider's stock rose more than 4.3% in premarket trading Monday.
mountain OKTA in past 12 months But Borges pointed to several growth catalysts for Okta going forward. First, the analyst projected an acceleration in subscription revenue for fiscal 2025 driven by factors such as stabilization in sales productivity, Okta continuing to take market share from more legacy vendors and building out channel partnerships. The company's subscription revenue is likely to accelerate from 14% in the second half of its current fiscal 2024 to 15%-20% in fiscal 2025.
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