Okta upgraded at Raymond James ahead of 'groundswell' of catalysts
- Saying the "former angel has fallen far enough, and should regain its wings," Raymond James upgrades Okta (NASDAQ:OKTA) from Outperform to Strong Buy and adds $10 to the price target for $310.
- Analyst Adam Tindle notes the stock's recent weakness and the "groundswell" of upcoming catalysts, including the second-quarter earnings report on September 1.
- Tindle sees "a rare valuation dislocation at present in an asset that has significant potential to be a consolidator in the universal use case across one of the most attractive growth markets in technology."
- Okta (OKTA) shares are up nearly 4% in pre-market trading to $258.
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