12:04 PM EST, 03/04/2025 (MT Newswires) -- Okta ( OKTA ) reported strong fiscal Q4 results, and the stock is poised for further gains, leaving the cloud-based access management platform company as a top pick, Oppenheimer said Monday in a report.

On Monday, Okta ( OKTA ) boosted full-year revenue guidance after non-GAAP earnings and sales in the three months ended Jan. 31 topped estimates by analysts.

"Overall, an excellent quarter showcasing Okta's ( OKTA ) growing product breadth and gains from sales adjustments" showed "broad-based momentum, including solid large customer trends," Oppenheimer said.

"We're bullish and establishing Okta ( OKTA ) as a top pick, seeing a multiquarter re-rating growth scenario solely based on the strong sales and portfolio execution," Oppenheimer said.

"Management remains careful with guidance accommodating a still mixed macro environment," the report said.

Oppenheimer boosted Okta's ( OKTA ) stock price target to $135 from $125 and maintained its outperform rating.

Okta ( OKTA ) shares jumped 18% in recent Tuesday trading as benchmark equity indexes extended a slump.

Price: 102.83, Change: +15.67, Percent Change: +17.98