Why Okta Stock Shot Nearly 6% Lower Today
Woe betide any company that falls afoul of analyst expectations. On Friday, tech stock Okta (NASDAQ: OKTA) was dinged with not one but two analyst price target cuts, driving its share price down by almost 6%.
That morning, prognosticators Michael Turits of KeyBanc and Guggenheim's Imtiaz Koujalgi both reduced their targets on Okta. The former's cut was more drastic, from $225 per share from his previous $290, although he's maintaining his overweight (read: Buy) recommendation on the stock.
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Source Fool.com