Okta Inc OKTA shares are trading lower. The stock appears to be moving on continued momentum after it tumbled into the close on Friday following a security breach.
What Happened: In a blog post late Friday, Okta said a threat actor gained unauthorized access to the company's support management system and was able to view uploaded files from certain Okta customers.
Okta noted that its production service and Auth0/CIC case management system were not impacted by the incident. The company said it has notified all impacted customers.
"Attacks such as this highlight the importance of remaining vigilant and being on the lookout for suspicious activity," the company said in the blog post.
Following the incident, Keybanc analyst Michael Turits maintained Okta with an Overweight rating and lowered the price target from $106 to $95.
Okta is a cloud-native security company that focuses on identity and access management.
See Also: Sony Reveals Another Security Breach, About 6,800 Employee Records Compromised
OKTA Price Action: Okta shares were down 7.36% at $70 at the time of writing, per Benzinga Pro.
Photo: methodshop from Pixabay.
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