On September 14, Okta Inc. rose 5.54% in regular trading, trading at $183.12/share, with turnover of $266 million. The rally came amid a broad cybersecurity sector surge, with CrowdStrike up over 7%, SentinelOne and Zscaler up over 6%, and Palo Alto Networks up nearly 5%.

The upswing extends momentum from Okta's strong fiscal Q2 results reported in late August, which beat estimates across the board. Adjusted EPS came in at $1.05, topping the consensus by 8.25%, while revenue reached $805 million, up 11% year-over-year versus the $793 million expected. Current RPO grew 14% to $25.9 billion. The company raised its full-year revenue guidance for the second time this fiscal year to $3.22-$3.23 billion, with full-year non-GAAP operating margin targeted at 26%.

AI-driven identity security demand has been a key catalyst. Jefferies analyst Joseph Gallo noted that Okta's AI-agent identity management products have been a breakout success, potentially marking the beginning of a broader cybersecurity spending cycle. Morgan Stanley similarly flagged Okta as well-positioned to benefit from enterprise shifts toward agentic identity-security platforms. The company also completed its acquisition of Permiso Security to bolster identity threat detection capabilities. RBC raised its price target to $195, maintaining an Outperform rating.

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