Okta shares are trading lower on continued downward momentum after a threat actor breached its support system and viewed certain customer files. Also, Keybanc maintained an Overweight rating on the stock but lowered its price target from $106 to $95.
Portfolio Pulse from Benzinga Newsdesk
Okta's shares are trading lower due to a security breach in its support system, where a threat actor viewed customer files. Keybanc maintained an Overweight rating on Okta but reduced its price target from $106 to $95.
October 23, 2023 | 2:11 pm
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Okta's stock is trading lower following a security breach and a lowered price target by Keybanc.
The security breach could potentially harm Okta's reputation and customer trust, leading to a decrease in its stock price. Additionally, Keybanc's lowered price target indicates a less optimistic outlook for the company's stock, which could further drive the price down.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100