Identity and access management company Okta (NASDAQ:OKTA) slid in pre-market trading on Monday after the company disclosed a data breach and said that an unidentified hacking group posing as “certain Okta customers” had secured access to the company’s support system.
The company stated that the hackers gained access to the system using stolen credentials but its customer offerings, including its production service, continued to be fully operational and were not impacted.
Okta commented, “We have notified impacted customers and taken measures to protect all our customers.”
What is the Forecast for Okta Company?
Analysts remain cautiously optimistic about Okta, with a Moderate Buy consensus rating based on 14 Buys, 10 Holds, and one Sell. The average Okta price target of $92.71 implies an upside potential of 22.7% from current levels.
