TD Cowen analyst Shaul Eyal downgraded Okta to Market Perform from Outperform with a price target of $74, down from $100. The company’s Q3 results indicate a top-line deceleration heading into fiscal 2025, the analyst tells investors in a research note. The firm says Okta’s financial performance is reflecting the impact of recent high-profile breaches involving the company’s solutions. It believes the stock remains range bound until revenue performance obligation growth can reaccelerate.
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