Okta price target lowered to $98 from $128 at BTIG

BTIG lowered the firm’s price target on Okta to $98 from $128 and keeps a Buy rating on the shares after attending the company’s user event. The firm thought “management struck a fairly balanced tone during the investor track.” It was clear that headwinds to seat counts in workforce identity and monthly active users in customer identity are expected to persist through the first half of 2026, the analyst tells investors in a research note. BTIG reduced estimates, saying Okta’s initiatives to improve traction with large enterprise customers, new products, and market expansion will take time.