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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on OKTA:
- Okta Chairman Todd McKinnon sells $17M in company shares
- Okta price target lowered to $95 from $105 at Baird
- Okta price target lowered to $82 from $90 at Canaccord
- Okta price target lowered to $98 from $128 at BTIG
- Okta price target lowered to $75 from $85 at DA Davidson
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
