Okta price target lowered to $90 from $110 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Okta to $90 from $110 and keeps a Buy rating on the shares after attending the company’s user conference. The analyst again acknowledges that Okta requires investor patience and that this has clearly become a "show-me" story. However, he wouldn’t lose sight of the fact that the company clearly remains a leader in the critically important identity and access management market. Moskowitz believes the stock’s valuation is "remarkably compelling."