Okta price target lowered to $80 from $95 at Wells Fargo

Wells Fargo lowered the firm’s price target on Okta to $80 from $95 and keeps an Overweight rating on the shares. The firm is cautious heading into the Q3 print, as management will have to provide preliminary guidance for FY25, the analyst tells investors in a research note. The firm is concerned the company could have higher levels of customer attrition and lower renewals in 4Q24 given the recent breach activity.