On May 28, Okta rose 5.2% in regular trading, trading at $94.17/share, with trading volume of $126 million. The stock gained momentum ahead of its quarterly earnings release scheduled for after market close.

On the news front, Arete significantly upgraded Okta from sell to buy and raised its price target from $83 to $127, implying substantial upside from current levels. According to FactSet, analysts maintain an average rating of overweight on Okta with a mean price target of $100.72. The upgrade comes as the company prepares to report results, with consensus estimates projecting quarterly revenue of approximately $752 million, representing 10.53% year-over-year growth, and adjusted earnings per share of $0.85.

Within the Internet Services & Infrastructure sector, the broader industry saw strong gains. Among individual stocks, Snowflake up 34.94%, MongoDB up 9.72%, Cloudflare up 7.96%, CoreWeave up 3.45%, Applied Digital up 0.77%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)