JPMorgan lowered the firm’s price target on Okta (OKTA) to $102 from $121 and keeps an Overweight rating on the shares as part of an earnings preview. The firm says the company is positioned well for better Q4 execution. Okta’s go-to-market productivity and new product traction positions it well in its seasonally strongest quarter, the analyst tells investors in a research note. JPMorgan cites peer multiple compression for the target cut and remains constructive on Okta’s fundamental improvement ahead.
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