Cantor Fitzgerald and DA Davidson Cut Okta, Inc. (OKTA) Price Targets, Stay Bullish

Core Viewpoint - Okta, Inc. (NASDAQ:OKTA) is recognized as one of the best AI stocks with significant growth potential, despite recent price target reductions by analysts [2][4]. Group 1: Analyst Ratings and Price Targets - Cantor Fitzgerald lowered its price target for Okta from $115 to $100 while maintaining an Overweight rating, citing market contraction despite solid checks [2]. - DA Davidson also reduced its price target from $140 to $110 but kept a Buy rating, expecting the company to report over $2.5 billion in current remaining performance obligations, exceeding its guidance range of $2.445 billion to $2.45 billion [4]. Group 2: Market Demand and Performance Insights - According to Cantor Fitzgerald's fourth-quarter fiscal 2026 checks, 21% of respondents indicated demand was ahead of expectations, a decrease from 39% in the previous quarter [3]. - DA Davidson's positive outlook is based on stable to slightly improved net sales performance, better sales representative attrition, and expectations for continued gains in sales productivity [5]. Group 3: Future Growth Expectations - DA Davidson believes Okta could see growth reaccelerate by the second half of fiscal 2027, attributing this to ongoing improvements in sales execution and a significant expansion in sales capacity [5].