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Why Okta Stock Was Climbing Today

TheMotleyFool

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Why Okta Stock Was Climbing TodayPhoto, wide shot, wide-angle lens, Consumer electronics manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.theapi.app/temp/d8a4268f-c982-4aa8-a09e-f9ee1db62f57.png

Shares of Okta (NASDAQ: OKTA) were higher today after the beaten-down stock got a positive analyst note from Jefferies, which said that the risk/reward on the cloud identity software company is appealing right now.

As of 12:10 p.m. ET, Okta stock was up 3.8% on the news.

In a note this morning, Jefferies analyst Joseph Gallo lowered his price target from $90 to $80 but maintained his buy rating on the stock. His new price target still implies a near-60% upside in the stock from yesterday's closing price.

Source Fool.com

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