Okta Inc. (NASDAQ:OKTA) on Wednesday posted upbeat second-quarter results.
Okta reported quarterly earnings of $1.05 per share, which beat the analyst consensus estimate of 97 cents, according to Benzinga Pro data. Quarterly revenue came in at $805 million, which beat the consensus estimate of $795.12 million and was up from $728 million in the same period last year.
"As AI agents transform every layer of technology, every agent needs a trusted identity and clear controls over what it can access and do," said Todd McKinnon, CEO of Okta.
Okta raised its fiscal 2027 adjusted EPS guidance to a new range of $3.90 to $3.94, versus the $3.84 analyst estimate, and raised its fiscal revenue outlook to $3.22 billion to $3.23 billion, versus the $3.2 billion estimate.
Okta shares jumped 19.9% to trade at $161.13 on Thursday.
These analysts made changes to their price targets on Okta following earnings announcement.
- Needham analyst Mike Cikos maintained the stock with a Buy and raised the price target from $140 to $200.
- Cantor Fitzgerald analyst Jonathan Ruykhaver maintained the stock with an Overweight rating and raised the price target from $170 to $200.
- Evercore ISI Group analyst Peter Levine maintained the stock with an Outperform rating and raised the price target from $130 to $185.
- Keybanc analyst Eric Heath maintained the stock with an Overweight rating and raised the price target from $180 to $190.
- Truist Securities analyst Junaid Siddiqui reiterated the stock with a Buy and raised the price target from $165 to $200.
- DA Davidson analyst Rudy Kessinger maintained the stock with a Buy and raised the price target from $165 to $190.
- Morgan Stanley analyst Simeon Gutman maintained the stock with an Overweight rating and raised the price target from $180 to $200.
- Guggenheim analyst John Difucci maintained the stock with a Buy and raised the price target from $162 to $188.
Considering buying OKTA stock? Here’s what analysts think:
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