- BMO Capital analyst Keith Bachman maintained Okta Inc (NASDAQ:OKTA) with an Outperform and lowered the price target from $125 to $110 ahead of its Q2 earnings this week.
- Bachman cited the improved capabilities and employee market wins by Microsoft Corp (NASDAQ:MSFT), which he continues to see as becoming a more formidable competitor in the workforce segment, driving his price target cut.
- Bachman adds that Okta will continue to incur substantial losses through FY24, partially driven by the state of competition.
- He believes Okta is well-positioned to benefit from the ongoing shift to the cloud.
- He also believes the identity market offers meaningful, sustained growth, particularly with the development of consumer identities.
- Price Action: OKTA shares traded lower by 3.19% at $90.50 on the last check Monday.
Lineage Cell Therapeutics Announces OpRegen Phase 1/2a Clinical Study 24-Month Visual Acuity Results Featured At 2024 Retinal Cell & Gene Therapy Innovation Summit
BCVA gains of +5.5 letters at 24 months in Cohort 4 patients (n=10)BCVA gains of +7.4 letters among Cohort 4 patients with extensive OpRegen bleb coverage of the GA lesion (n=5)Maintenance or increases in external
