Mizuho Downgrades Okta to Neutral, Announces $85 Price Target
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Gregg Moskowitz has downgraded Okta (NASDAQ:OKTA) from Buy to Neutral and set a price target of $85. This reflects a more cautious stance on the stock's near-term prospects.
January 08, 2024 | 12:15 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Okta has been downgraded by Mizuho from Buy to Neutral with a new price target of $85, indicating a potential change in stock performance expectations.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's performance. The new price target of $85 also provides a benchmark that may influence investor expectations and stock price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100