Okta Shares Surge 28% After Q1 Beat, Price Targets Lifted
OKTA•Okta reported Q1 revenue of $765 million and EPS of $0.91, beating Street estimates of $751.8 million and $0.85, driving shares up nearly 28% in a single session. Morgan Stanley raised its price target to $115, Mizuho lifted its target to $110, while Okta forecast Q2 revenue of $790–794 million.
1. Q1 Results and Stock Surge
Okta’s Q1 revenue reached $765 million with EPS of $0.91, surpassing consensus estimates of $751.8 million and $0.85. Shares climbed nearly 28% in a single day, marking the largest ever one-day gain for the company.
2. Analyst Price Target Increases
Morgan Stanley boosted its price target from $101 to $115 and maintained an Overweight rating, citing acceleration in new product traction. Mizuho raised its target to $110 and kept an Outperform rating, while Scotiabank remained neutral pending sustained top-line re-acceleration.
3. Q2 Guidance and Growth Outlook
For Q2, Okta projected total revenue between $790 million and $794 million, representing approximately 9% year-over-year growth. The company expects EPS of $0.95 to $0.97, reflecting confidence in continued market leadership in identity security.
