Okta Shares Fall 12.9% After Multiple Firms Cut Price Targets
Okta shares plunged 12.86% during the week of February 16-20 after multiple analysts reduced their price targets on the cybersecurity firm. The stock’s steep weekly decline ranked it among the top 10 large-cap underperformers.
1. Weekly Performance
Okta shares dropped 12.86% during the trading week of February 16-20, making the cybersecurity provider one of the top ten large-cap losers over that period.
2. Analyst Price Target Reductions
Multiple firms lowered their price targets on Okta over the same week, prompting the share price sell-off and reflecting waning analyst optimism.
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