Okta Gets Bullish Start at Cowen

Cowen has initiated coverage on identity access management (IAM) and single sign-on (SSO) provider Okta (NASDAQ: OKTA). Analyst Nich Yako has slapped a bullish outperform rating on Okta shares alongside a $150 price target. That's well above the average price target of roughly $126, and close to the Street high of $155 from BMO Research (which actually has Okta rated at market perform).

Okta has already been enjoying strong gains in 2019, with the stock up 114% year to date. Here's why Cowen thinks Okta still has more upside from here.

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Source Fool.com