Is Okta Stock a Buy After Its 20% Post-Earnings Jump?
TLDR
- Okta stock surged roughly 20% in after-hours trading after Q2 revenue hit $805 million, up 11% year over year, beating estimates of $793 million
- Q2 EPS came in at $1.05, above the $0.96 analyst consensus
- New products made up 30% of bookings; deals including a new product averaged 40% higher annual contract value
- Okta raised full-year fiscal 2027 revenue guidance to $3.216B-$3.226B and EPS outlook to $3.90-$3.94
- Wall Street holds a Strong Buy consensus on OKTA with an average price target of $148.79, implying roughly 11% upside
Okta (OKTA) stock jumped about 20% in after-hours trading on Wednesday after the company posted second-quarter fiscal 2027 results that topped expectations on both revenue and earnings.
Revenue came in at $805 million, up 11% year over year, beating the consensus estimate of $793 million. EPS landed at $1.05, ahead of the $0.96 analysts had penciled in.
CEO Todd McKinnon pointed to AI agents as a growing driver of demand. โEvery agent needs a trusted identity and clear controls over what it can access and do,โ he said. The quarter marked a record bookings period for any non-fourth quarter in Oktaโs history.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
