Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Okta Analyst Knocks Off Price Target By 13%, Courtesy Microsoft

BMO Capital analyst Keith Bachman maintained Okta Inc (NASDAQ:OKTA) with an Outperform and lowered the price target from $125 to $110 ahead of…
byAnusuya Lahiri
August 29, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • 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.
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

$8M Bet On Vicarious Surgical? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

By Lisa Levin
August 10, 8:33 AM
The Dow Jones closed lower by around 200 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

RBOT