Movement Alert|Okta Inc. Rises 7.95% in Pre-Market Trading, Q1 Earnings Beat on Both Revenue and EPS with Full-Year Guidance Raised

Market Focus
05/29

On May 29, Okta Inc. rose 7.95% in pre-market trading, trading at $102.4/share, with trading volume of $204,300.

The surge was driven by the company's first fiscal quarter earnings report released after the prior session's close. Okta posted adjusted earnings per share of $0.91, exceeding the analyst consensus estimate of $0.85, representing a 5.81% year-over-year increase. Revenue came in at $765 million, surpassing the market expectation of $752 million and maintaining double-digit year-over-year growth. Importantly, the company simultaneously raised its full-year fiscal 2027 guidance, projecting next-quarter revenue between $790 million and $794 million versus a market expectation of $791 million.

CEO Todd McKinnon highlighted that Agentic AI is driving a surge in demand for identity authentication tools, with Okta investing further in solutions such as Okta for AI agents. Additionally, Arete recently upgraded Okta from Sell to Buy with a target price of $127, significantly above current levels. As a leading independent identity provider, Okta's cloud platform is well-positioned to benefit from expanding enterprise AI security needs.

(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.)

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