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Okta price target lowered to $235 from $250 at Piper Sandler
Piper Sandler analyst Rob Owens lowered the firm's price target on Okta to $235 from $250 and keeps a Neutral rating on the shares. The company reported "solid" Q4 results, but a "softer" guidance and sizable acquisition are likely to weigh on shares, Owens tells investors in a research note. While the analyst finds the deal "compelling," he believes that Okta is reaching a scale where it should begin to throw off better free cash flow dynamics and that the transaction likely pushes that out