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Fly News Breaks for November 18, 2019
OKTA
Nov 18, 2019 | 17:51 EDT
As reported earlier, DA Davidson analyst Andrew Nowinski upgraded Okta to Buy from Neutral and raised his price target on the shares to $135 from $131. Nowinski said that while shares have declined 24% since the end of July, he believes the pullback represents a "good entry point" to get into one of the top Software-as-a-Service growth stocks. The analyst added that he believes the stock is capable of generating over 30% growth for the next four-plus years, combined with a free cash flow margin of 20% or higher.
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