Okta

OKTA

Market cap $21.6B

Software stocks bounced this week on strong results from Snowflake and Okta, which both recorded their best days on record. The results signal that investors may have been too quick to declare the end of software with the emergence of artificial intelligence.

Okta Inc. (NASDAQ:OKTA) stock surged Friday after delivering a stronger-than-expected quarter and raising its full-year outlook, prompting a broad wave of Wall Street price-forecast hikes as analysts pointed to accelerating demand for AI security and improving sales execution.

Okta, Inc. (OKTA) Q1 2027 Earnings Call Transcript

The company reported better-than-expected earnings but analysts are focused on the AI product pipeline.

OKTA stock jumps after Q1 earnings beat estimates as revenue rose 11% Y/Y, fueled by subscription growth and higher contracted backlog.

Okta Inc (NASDAQ:OKTA) shares are jumping on Friday after delivering a first‑quarter report that cleared expectations on both revenue and earnings, followed by a guidance raise that gave the market even more to work with. The strong print was quickly met with higher price targets from BTIG and Needham, adding fuel to the move.

Okta Inc (NASDAQ:OKTA) shares jumped 24% on Friday after the identity security company reported first-quarter results that topped Wall Street estimates and raised its full-year outlook, with analysts pointing to accelerating demand and an emerging artificial intelligence tailwind. The San Francisco-based company posted revenue of $765 million for its fiscal first quarter of 2027, up 11% year-over-year and ahead of analyst estimates of $752 million.

SAN FRANCISCO--(BUSINESS WIRE)--Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced that a member of its management team is scheduled to participate in an upcoming investor conference. Details for the event are as follows: Evercore TMT Conference Wednesday, June 3, 2026 1:20 p.m. Pacific time (4:20 p.m. Eastern time) FBN Virtual Technology Conference Wednesday, June 10, 2026 11:30 a.m. Pacific time (2:30 p.m. Eastern time) The presentations will be webcast live.

On CNBC's “ Halftime Report Final Trades ,” Jim Lebenthal, chief equity strategist and partner at Cerity Partners, said Wynn Resorts Ltd (NASDAQ:WYNN) presents an opportunity to buy the dip.

Okta NASDAQ: OKTA executives said the identity security company began fiscal 2027 with strong first-quarter momentum, citing large enterprise demand, partner engagement and contributions from newer products, while emphasizing artificial intelligence agents as a major emerging opportunity for the business.