Movement Alert|Okta Inc. Overnight Rise 7.58%, Q1 Earnings Beat on Both EPS and Revenue with Raised Full-Year Outlook

Market Focus
05/29

On May 29, Okta Inc. rose 7.58% overnight, trading at $102.0/share. The surge was driven by the company's fiscal Q1 earnings report that beat expectations on both top and bottom lines, accompanied by an upward revision to its full-year guidance.

Okta reported fiscal Q1 adjusted EPS of $0.91, exceeding the analyst consensus estimate of $0.85 by 7.06% and representing a 5.81% year-over-year increase from $0.86. Revenue came in at $765 million, surpassing the market expectation of approximately $752 million. The company also raised its FY2027 full-year outlook, guiding adjusted EPS to a range of $3.79–$3.87, in line with the FactSet estimate of $3.80. For Q2, Okta expects revenue between $790 million and $794 million versus the consensus of $791 million.

CEO Todd McKinnon highlighted that Agentic AI is driving a surge in demand for identity management tools, with the company investing in products such as Okta for AI agents. Separately, Arete recently upgraded Okta from Sell to Buy with a target price raised from $83 to $127.

(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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