Okta price target lowered to $92 from $100 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Okta (OKTA) to $92 from $100 and keeps an Equal Weight rating on the shares after Okta announced on Friday last week that it discovered a vulnerability where organizations without multi-factor authentication and usernames with 52 characters or more could allow its users to log in without a password being entered. The online and press reaction over the weekend has “not been favorable” given multiple security incidents from Okta in the last couple year, but the firm thinks the impact of this vulnerability is “likely minimal,” the analyst tells investors.