Barclays Lowers PT on Okta, Inc. (OKTA) to $100 From $120

Okta, Inc. (NASDAQ:OKTA) is one of the most promising future stocks according to Wall Street analysts. On August 18, Barclays lowered the firm’s price target on Okta, Inc. (NASDAQ:OKTA) to $100 from $120, keeping an Equal Weight rating on the shares.

Why Okta, Inc. (OKTA) Crashed Last Week

A mobile application developer programming on a tablet, illustrating the power of the company’s adaptive multi-factor authentication.

The rating update came ahead of the earnings report on August 26. Barclays added that it sees potential upside for the remaining performance obligations because of healthy federal activity.

Okta, Inc. (NASDAQ:OKTA) provides an identity management platform for enterprises, operating through the International and United States geographical segments.

The company secures the identity of every AI agent across its full lifecycle, irrespective of the task and environment. Its products include multi-factor authentication, single sign-on, API access management, access gateway, authentication, lifecycle management, and more.

While we acknowledge the potential of OKTA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OKTA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.