On March 2, we noted, “Keep an eye on Okta (OKTA). After Cowen analysts upgraded the stock to an outperform rating from market perform, with a $70 price target, the stock took off. Since the start of 2023, OKTA ran from about $60 to $81 so far. From here, we’d like to see it initially refill its bearish gap around $90.”
From $81, the OKTA stock is now up to $87.64 and is about to refill its bearish gap. If it can refill that gap, and break above resistance at its 100-day moving average, OKTA could see $140.
Others are just as bullish with price target upgrades, including Truist, BMO Capital, Needham, Stifel, Piper Sandler, DA Davidson, Canaccord, Oppenheimer, JMP Securities, Mizuho, Stephens, Bernstein, and Moffett Nathanson.
So far, so good with OKTA…