On September 2, Okta Inc. fell 5.04% in regular trading, trading at $157.99/share, with turnover of $2.95 billion. The decline extends a multi-day pullback following the stock's nearly 29% surge on August 27, driven by a blowout Q2 earnings report and upward guidance revision.

On the earnings front, Okta reported Q2 revenue of $805 million, up 11% year-over-year, beating the consensus estimate of $793 million. Adjusted EPS came in at $1.05, surpassing expectations of $0.97 by over 8%. The company raised its fiscal 2027 full-year revenue guidance to $3.22-$3.23 billion and adjusted EPS guidance to $3.90-$3.94, both above analyst estimates. Multiple analysts, including RBC, Oppenheimer, and Jefferies, highlighted Okta's positioning in AI agent identity management as a key long-term growth driver, with RBC raising its price target to $195.

The broader Internet Services and Infrastructure sector weighed on the stock, with MongoDB down 12.68%, Cloudflare down 5.52%, Snowflake down 4.65%, and CoreWeave down 2.38%. The current retreat appears to reflect normal profit-taking after the sharp post-earnings rally.

(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.)