Okta Shares Climb 20% as Investors Revalue AI Identity Push
Okta shares jumped nearly 20% Friday after the company beat first-quarter earnings and revenue forecasts, posting adjusted earnings of 91 cents per share on $765 million in revenue. Analysts at RBC, BMO Capital, and Mizuho raised their price targets following the results. Okta’s current remaining performance obligations rose 12%, and free cash flow reached $271 million. The company now projects second-quarter revenue of $790 million to $794 million.