Okta price target lowered to $75 from $85 at DA Davidson

DA Davidson lowered the firm’s price target on Okta to $75 from $85 and keeps a Neutral rating on the shares after attending the company’s annual user event. A number of nice new product enhancements were announced across the Workforce & Customer Identity product suites, though none were “real game changers”, the analyst tells investors in a research note. DA Davidson adds that its conversations with Okta customers and channel partners indicated “limited traction” with the newer IGA & PAM products.