TD Cowen Downgrades Okta to Market Perform, Lowers Price Target to $74
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Shaul Eyal has downgraded Okta (NASDAQ:OKTA) from Outperform to Market Perform and reduced the price target from $100 to $74, indicating a more cautious view on the stock's future performance.
November 30, 2023 | 12:51 pm
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Okta's downgrade by TD Cowen from Outperform to Market Perform and a reduced price target from $100 to $74 suggests a bearish outlook on the stock's short-term performance.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a decrease in stock price. The reduction in price target further implies that the stock may not reach previously expected values in the near term, which can lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100