Okta slips after forecast fails to impress

Shares of identity management firm Okta OKTA.O down 3.2% at $79.25 premarket after co's outlook fails to impress investors

Q4 revenue expected between $748 mln and $750 mln, above analysts' estimates of $737.9 mln - data compiled by LSEG

Sees Q4 adj. EPS in the range of 84-85 cents, largely in-line with estimated 84 cents

At least four brokerages cut their PT on stock following results, outlook

Scotiabank says the Q4 guide was "good, but lacked whizz, bang and sparkle to get investors to return" to the stock

"We believe the magnitude of beats could shrink as management guides closer to the pin" - brokerage RBC

Co also withheld its outlook for FY27, further dampening sentiment

Average rating of 45 analysts is a "buy"; median PT at $116 - LSEG

Shares up 3.9% YTD, as of last close