Okta Stock Hits Near 52-Week High After Crushing Q2 Expectations
TLDR
- Okta stock rose 21.5% to $163.37 after Q2 fiscal 2027 earnings beat expectations
- Adjusted EPS came in at $1.05 vs. $0.96 expected; revenue hit $805 million, up 10.6% year over year
- Q2 marked Okta’s strongest bookings for any non-fourth-quarter period
- Multiple analysts raised price targets, with Oppenheimer setting a new target of $190
- Okta raised its full-year fiscal 2027 guidance by twice the amount of its Q2 beat
Okta stock jumped 21.5% on Thursday, hitting $163.37, after the company posted a strong second-quarter fiscal 2027 earnings report that beat Wall Street estimates across the board.
Adjusted earnings per share came in at $1.05, topping the $0.96 consensus estimate. Revenue reached $805 million, up 10.6% year over year and ahead of the $793 million analysts expected.
The quarter stood out for its bookings performance. It was Okta’s strongest non-fourth-quarter bookings period on record, and current remaining performance obligations grew 14.1% year over year, accelerating nearly 2 percentage points from the prior quarter.
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