Okta (OKTA) was a downgraded to "Market Perform" at JMP Securities—with analysts citing significant brand degradation after a recent security breach. Citizens JMP Securities Equity Research Analyst Trevor Walsh joins Yahoo Finance Live to discuss why he downgraded the stock. Walsh surveyed customers and found "the overall perception of the brand" took a hit. Regarding the breach itself, Walsh notes that it is "difficult to quantify" the impact of this breach and breaches in general, but does note that about 1% of customers were affected. Walsh does expect the breach to cause "pause" from customers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Okta (OKTA) was a downgraded to "Market Perform" at JMP Securities—with analysts citing significant brand degradation after a recent security breach. Citizens JMP Securities Equity Research Analyst Trevor Walsh joins Yahoo Finance Live to discuss why he downgraded the stock.
Walsh surveyed customers and found "the overall perception of the brand" took a hit. Regarding the breach itself, Walsh notes that it is "difficult to quantify" the impact of this breach and breaches in general, but does note that about 1% of customers were affected. Walsh does expect the breach to cause "pause" from customers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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TipRanks
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Bloomberg
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