Major Averages Decline for Second Straight Day as Investor Sentiment Softens

Written by Emily J. Thompson, Senior Investment Analyst

OKTA+0.19%

CHKP-0.96%

RIVN-3.05%

Updated: Jan 14 2026

0mins

The major averages were broadly lower for the second straight day as investors navigate a busy week of earnings and economic data. Sentiment has softened after Tuesday's session saw key benchmarks retreat amid political and monetary policy uncertainty despite a cooler-than-expected inflation reading that underpinned rate-cut hopes. Financial stocks have been under pressure with mixed earnings results from major banks, and geopolitical and policy risks have further tempered risk appetite.Precious metals continue to be a standout theme, with gold and silver reaching fresh all-time highs as traders hedge against economic and policy uncertainty and lean into the safe-haven trade.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Bank of Americareported, though the company said it expects its headcount to "come down" this yearCitireportedand provided guidance for FY26Wells Fargoreported upbeat Q4 earnings, though revenue for the quarter wasPalo Alto Networks, Broadcom'sVMware, and Fortinetare among U.S. firms whose cybersecurity software has been banned in China, while Check Pointis among Israeli companies banned there,Google'sGemini introduced AI personalization tool2. WALL STREET CALLS:StephensOktaand Check Pointto Overweight amid durable growth in cybersecurityRivianto Sell at UBSTD CowenBlackRockto HoldTapestryat Hold from Buy at JefferiesUberwith an Outperform at BNP Paribas3. AROUND THE WEB:Metaconfirmed that it is cutting more than 1,000 jobs from the Reality Labs division as part of a plan to redirect resources from virtual reality and metaverse products toward AI wearables and phone features, Bloomberg saysNvidiais denying that it will require Chinese customers to pay upfront for its H200 chips, saying it "would never require customers to pay for products they do not receive," Reuters reportsXpengis looking to sell 550,000-600,000 vehicles this year, or a 28%-40% increase from its sales last year, when the automaker delivered 429,445 cars, up 126% from 2024, Reuters saysCoca-Colahas ended talks to sell Costa Coffee after bids from potential private equity suitors fell below expectations, FT reportsShelland Exxon Mobilhave halted the intended sale of natural gas assets in Britain's Southern North Sea to Viaro Energy, Reuters reports4. MOVERS:Clover Healthhigher after announcing 3% year-over-yearin its Medicare Advantage PPO plans for the 2026 plan yearTG Therapeuticsincreases afterand providing guidance for FY26ImmunityBiogains after the Saudi Food and Drug Authority hasof ANKTIVATrip.comlower in New York after receiving afrom the State Administration for Market Regulations of the People's Republic of ChinaBitfarmsfalls in New York afterof the Board5. EARNINGS/GUIDANCEInfosys, with CEO Salil Parekh commenting, "Infosys delivered a strong Q3 performance"RedCloudview and provided guidance for FY26Aveannafor FY25Intuitive SurgicalHorizon Aircraft, with EPS lower year-over-yearINDEXES:Near midday, the Dow was down 0.61%, or 301.74, to 48,890.25, the Nasdaq was down 1.63%, or 386.02, to 23,323.85, and the S&P 500 was down 1.09%, or 75.65, to 6,888.09.

OKTA

$91.46+Infinity%1D

Analyst Views on OKTA

Wall Street analysts forecast OKTA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OKTA is 114.03 USD with a low forecast of 75.00 USD and a high forecast of 145.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

31 Analyst Rating

22 Buy

8 Hold

1 Sell

Moderate Buy

Current: 91.290

Low

75.00

Averages

114.03

High

145.00

Current: 91.290

Low

75.00

Averages

114.03

High

145.00

RBC Capital

Matthew Hedberg

Outperform

maintain

$97 -> $108

2026-01-05

Reason

RBC Capital

Matthew Hedberg

Price Target

$97 -> $108

AI Analysis

2026-01-05

maintain

Outperform

Reason

RBC Capital analyst Matthew Hedberg raised the firm's price target on Okta to $108 from $97 and keeps an Outperform rating on the shares. 2026 is likely to be a year when AI tailwinds become more evident for companies well positioned for enterprise AI adoption, while less prepared peers may remain pressured by the "AI is the death of software" narrative, the analyst tells investors in a research note. Enterprise spending appears to be stabilizing and improving in select areas, with GenAI driving innovation even as management teams remain conservative in early 2026 guidance, the firm says.

Piper Sandler

Neutral

maintain

$95 -> $100

2026-01-05

Reason

Piper Sandler

Price Target

$95 -> $100

2026-01-05

maintain

Neutral

Reason

Piper Sandler raised the firm's price target on Okta to $100 from $95 and keeps a Neutral rating on the shares. The firm says 2025 proved to be a tough year for its Security & Infrastructure Software coverage, with the average name showing negative performance and only four names outperforming the NASDAQ. Piper is cautiously optimistic for a better year in 2026, with many names entering the year at interesting valuation levels setup well to be longer-term GenAI winners, despite monetization at the software layer not yet occurring at scale.

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Stephens

Equal Weight

maintain

2025-12-29

Reason

Stephens

Price Target

2025-12-29

maintain

Equal Weight

Reason

Stephens walked away from the firm's recent fireside chat with Okta with a greater appreciation for the company's growth opportunity with Auth0, says the analyst, who believes a significant, underpenetrated growth opportunity remains with roughly 50% of the Customer Identity and Access Management market still relying on homegrown solutions. The timing and magnitude remain uncertain, but the firm believes Auth0 "adds to the case for Okta approaching a potential growth inflection point," adds the analyst, who maintains an Equal Weight rating on Okta shares.

Jefferies

Joseph Gallo

Hold -> Buy

upgrade

$90 -> $125

2025-12-16

Reason

Jefferies

Joseph Gallo

Price Target

$90 -> $125

2025-12-16

upgrade

Hold -> Buy

Reason

Jefferies analyst Joseph Gallo upgraded Okta to Buy from Hold with a price target of $125, up from $90, as part of its 2026 software outlook. Okta has a "significant opportunity" as it attempts to build out a complete identity platform and capture growing agentic demand, the analyst tells investors in a research note. The firm believes the stock's value dislocation "has become too significant" as the company faces several fundamental catalysts in fiscal 2027 from improved execution, secular agentic tailwinds, and potential for positive estimate revisions.

About OKTA

Okta, Inc. is an independent identity partner. The Company’s Okta Platform and Auth () Platform enable its customers to securely connect the right people to the right technologies and services at the right time. It offers independent and neutral cloud-based identity solutions that allow customers to integrate with nearly any application, service or cloud that they choose through its platforms. Organizations use the Company’s Identity Platform to collaborate with their partners, and to provide their customers with secure experiences in the cloud and via mobile devices. Developers leverage the Workforce Identity Cloud and Customer Identity Cloud, powered by Auth (), to securely and efficiently embed identity into the software they build, allowing them to innovate and focus on their core missions. Its Okta Platform enables its customers to automate and secure access across their ecosystem of employees, contractors and partners, increasing collaboration across their workforces.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.