Okta target trimmed, removed from ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI analyst Peter Levine lowered the firm’s price target on Okta to $70 from $75 and keeps an In Line rating on the shares, which have been removed from the firm’s “Tactical Underperform” list following the company’s Q3 report. While Okta delivered “solid” fiscal Q3 results, with a top and bottom-line beat, the initial FY25 revenue guidance came in “below the 12% bogey, with management calling out consistent macro pressures and the October breach as the culprits, the analyst tells investors.