Okta surges on Q2 results beat
OKTA•Shares jump after quarterly beat and raised outlook
Shares of digital identity verification firm Okta (OKTA.O) jump more than 19% to $160.19 after Q2 results beat.
- OKTA posts quarterly revenue of $805 mln vs analysts' estimates of $795.04 mln; adjusted EPS is $1.05, beating estimates of 97 cents.
- Co sees Q3 revenue of $813 mln to $817 mln.
- At least seven brokerages raise PT on the stock post results - data compiled by LSEG.
- "Identity has increased in importance in a WFA/Zero Trust/AI world, and we believe OKTA could be among the largest beneficiaries" - Jefferies.
- Thirty-seven of 46 brokerages rate the stock "buy" or higher, eight "hold" and one "sell"; their median PT is $172.50 - data compiled by LSEG.
- OKTA is up over 55% YTD.
