Okta price target lowered to $60 from $70 at Truist

Truist analyst Joel Fishbein lowered the firm’s price target on Okta to $60 from $70 and keeps a Hold rating on the shares. The company’s Analyst Day highlighted some of its new product innovations and articulated its vision of a unified identity cloud, but in the near-term, the company has significant work to do on the integration front regarding its acquisition of Auth0 and will continue to face headwinds from a weakening macroeconomic environment, the analyst tells investors in a research note.