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.
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