Okta price target lowered to $110 from $123 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Okta (OKTA) to $110 from $123 and keeps an Overweight rating on the shares. Q3 results beat across all metrics and the firm comes away from the report “encouraged,” but adds that the catalyst for shares remains reacceleration and the company avoided guiding to FY27 on the fiscal Q3 call, which “pushes it out for at least a quarter.”