🔴 Okta Inc is trading 6.1% down today after Mizuho downgrades the stock to 'Neutral'

Okta Inc is trading 6.1% down at $131.26 after analysts at Mizuho downgraded the stock, citing valuation concerns following its recent rally.

• Mizuho downgraded Okta from "outperform" to "neutral" on Tuesday morning, though it raised its price target to $125 from $110.
• The downgrade comes after the stock surged nearly 50% over the previous two trading sessions following a strong earnings report and raised outlook.
• The analyst noted that while Okta is well-positioned for AI, the opportunity is likely already reflected in the stock's current full valuation.