Okta, Inc. operates as an identity partner in the United States and internationally. It offers Single Sign-on to secure access to cloud and on-premises applications from any device; Adaptive MFA for a risk-based layer of security for an organization's cloud, mobile, and web applications; API Access Management, which enables organizations to secure APIs as systems; Access Gateway, which extends the Okta platform to hybrid IT environments; Okta Device Access, which extends Okta platform's secure access management to the device login experience; Universal Directory for a cloud-based system of record. The company also provides Identity Threat Protection; Identity Security Posture Management for security measures and safeguards digital assets; Okta for AI Agents to discover, register, authenticate, govern, and manage AI Agents; Identity Governance and Administration products, including Lifecycle Management, Okta Workflows, Okta Identity Governance, and Cross App Access; Advanced Server Access for continuous and contextual access management to secure cloud infrastructure; and Okta Privileged Access to reduce risk with unified access and governance management. In addition, it provides Universal Login, a standards-based login infrastructure; Attack Protection Suite to minimize risks associated with identity-targeted attacks; Adaptive MFA; Passwordless, which enables users to login without a password; Machine-to-Machine Tokens for authentication and authorization with NHIs; Private Cloud, a deployment option; Organizations, which support a large number of partners or customers; Extensibility, which enables customers to build customized identity flows; Fine Grained Authorization, which manages complex authorization scenarios; and Auth0 for AI Agents to secure and scale agentic applications. The company was formerly known as Saasure, Inc. Okta, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
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Artificial Intelligence▲impact 4
Nvidia, Salesforce, CrowdStrike Lead After-Hours Moves
In after-hours trading, Nvidia rose 4% after beating expectations on both lines in the second quarter, with revenue more than doubling to $96.22 billion and adjusted earnings of $2.22 per share, versus analyst estimates of $92.17 billion and $2.10 per share. Salesforce soared 12% after reporting second-quarter revenue of $11.35 billion, slightly above the consensus estimate of $11.32 billion, and adjusted earnings of $5.90 per share, more than double year-over-year due to an investment gain. CrowdStrike Holdings gained 10% after beating consensus on revenue and earnings per share, while Okta surged 19% on stronger-than-expected results and raised full-year guidance. Urban Outfitters fell 3% despite in-line results, and Synopsys dropped 2% even after raising its annual forecasts.
Okta reported second-quarter revenue of $805 million, up 10.6% year over year, and EPS of $1.05, beating the Zacks Consensus Estimate of $792.14 million and $0.96, respectively. The company's current remaining performance obligations (cRPO) reached $2.59 billion, surpassing the analyst average of $2.51 billion, while total remaining performance obligations came in at $4.86 billion versus the $4.73 billion estimate. Subscription revenue rose 11.5% to $793 million, and professional services and other revenue fell 29.4% to $12 million. Okta's stock has declined 4.1% over the past month, compared with the S&P 500's 3.7% gain, and the company holds a Zacks Rank #2 (Buy).
Okta reported quarterly earnings of $1.05 per share, surpassing the Zacks Consensus Estimate of $0.96, and revenues of $805 million for the quarter ended July 2026, beating estimates by 1.62%. This compares to earnings of $0.91 per share and revenues of $728 million a year ago. The company has exceeded consensus EPS estimates in each of the last four quarters. Okta shares have gained about 51.1% year-to-date, outperforming the S&P 500's 12.2% gain. The current consensus EPS estimate for the coming quarter is $0.93 on revenues of $807.55 million, and for the fiscal year it is $3.83 on revenues of $3.2 billion. Okta holds a Zacks Rank #2 (Buy).
CrowdStrike, Okta, and HP Inc. reported earnings after the bell, with shares moving sharply in opposite directions. CrowdStrike jumped after a strong second quarter, with revenue and adjusted earnings topping expectations and annual recurring revenue reaching almost $6 billion, also above estimates. The company raised its full-year revenue outlook, citing strong demand as AI-driven cyber threats grow. Okta also surged after raising its full-year outlook for a second time, now expecting revenue growth of 10 to 11% with a record subscription backlog, and noting that new products make up 30% of bookings. In contrast, HP Inc. plunged despite beating estimates on the top and bottom lines and issuing upbeat guidance, as investors worried about worsening PC and printer sales and rising memory chip costs leading to higher consumer prices.
Palo Alto CEO Held Talks with Okta and Datadog Before CyberArk Deal
Palo Alto Networks CEO Nikesh Arora held acquisition talks with both Okta and Datadog before landing a $25 billion deal for CyberArk, and is now circling Cribl and ClickHouse as his next targets, The Information reported on Wednesday. Between late 2024 and early 2025, Arora met with Okta CEO Todd McKinnon, and discussions progressed to product complementarity but stalled over price disagreements. Okta, valued at roughly $13.5 billion at the start of last year, has since climbed around 30% to a market cap near $23 billion. In spring 2025, Arora approached Datadog CEO Olivier Pomel with a hypothetical acquisition when Datadog was valued at more than $40 billion, but Pomel was not receptive and no formal offer was made; Datadog's market cap has since roughly doubled to more than $80 billion. With both paths closed, Arora executed fallback moves: Palo Alto agreed in July 2025 to acquire CyberArk, and in January 2026 paid $3.35 billion for Chronosphere, a smaller Datadog rival. Together, those two acquisitions contributed $338 million of the $3 billion in revenue Palo Alto generated in the April quarter. Arora's accelerating dealmaking reflects a conviction that AI is fundamentally changing the threat landscape, with AI agents capable of executing cyberattacks humans never could, making continuous monitoring a boardroom priority.
Okta Q2 earnings preview: analysts expect beat, upgrades from Wells Fargo and Citizens
Okta is scheduled to report second-quarter earnings on August 26 after the closing bell, with analysts anticipating a better-than-expected print. Wall Street has projected earnings of $0.96 per share, a 5.5% year-on-year jump, and revenue of $793.03 million, up nearly 9%, in line with management's guidance. The company also guided to current RPO growth of 11%, non-GAAP operating margin of 26%, and a free cash flow margin of 20% to 21% for the quarter. Analysts expect a beat given Okta's history of conservative guidance, having beaten EPS and revenue estimates 100% of the time over the last two years. Ahead of earnings, Wells Fargo upgraded Okta to Overweight from Equal-Weight, and Citizens upgraded it to Market Outperform from Market Perform.
Okta has appointed Scott Morgan as its new Chief Legal Officer, bringing in a legal leader with experience in technology growth and integrations. Morgan previously led legal functions at Splunk and played a key role in its expansion and integration into Cisco. The appointment comes as Okta develops AI-native identity security offerings and refines its governance and risk management approach. Okta operates as an identity partner in the US and internationally, with a market cap of about $24.5 billion.
Lightbits Adds Native Okta Integration to Storage Software
Lightbits Labs announced native integration with Okta in its software release v3.20.1, streamlining storage security for enterprise customers including a major US-based financial services provider. The integration builds on Lightbits' existing federated authentication with Active Directory Federation Services, allowing organizations to manage cluster access through their standardized identity provider instead of maintaining local user accounts. Storage administrators can authenticate via the CLI using existing Okta identities, with REST API support planned, and cluster administrators can assign roles directly to Okta users and groups governed by corporate security teams. Lightbits Chief Technology Officer Abel Gordon said the expansion empowers customers, including major global financial institutions, to maintain rigid security postures while accelerating operational productivity.
Alibaba shares rose 1.5% premarket after Reuters reported the company is set to sell its Lingxi Games business to private equity firm Trustar Capital for more than $2 billion. Memory chipmakers gained after U.S. Commerce Secretary Howard Lutnick told the Wall Street Journal the Trump administration opposes Apple buying Chinese memory chips, with Sandisk up nearly 5% and Western Digital and Micron Technology up more than 3%. Intel added about 1.5% after CEO Lip-Bu Tan purchased more than 105,000 shares at $95 each, according to an SEC filing. SoFi Technologies rose 2% after Piper Sandler initiated coverage with an overweight rating, and Okta gained 1% after Wells Fargo upgraded the stock to overweight from equal-weight.
Okta Wins Partner Recognition for Identity Security Push in Cloud and AI
Okta and Master Concept were recognized for their collaboration in identity security for complex cloud and AI environments, with Master Concept receiving the Okta Catalyst Award for Strategic Excellence. The award highlights joint work across Asia and points to concrete business development and market expansion activity that adds to Okta's global identity security footprint. The collaboration also shows Okta's focus on environments where AI raises new identity security requirements, and the company is positioning itself as a neutral identity layer that can sit across large cloud providers like Google Cloud. For investors, a central question is how effectively Okta can convert this type of partner recognition into more durable customer relationships and a clearer role in securing AI-heavy workloads over time.
S&P 500 futures edged lower while Nasdaq futures ticked higher as investors weighed cooling inflation hopes against rising geopolitical risks. The June Consumer Price Index is expected at 3.8% year on year and monthly CPI is forecast to dip 0.1%, signaling some easing in the cost of living even as core inflation is seen steady at 2.9%. US 10-year bond yields sit near 4.62% and oil prices are being pushed around by Iran Strait of Hormuz tensions, raising questions about future borrowing costs and energy-sensitive sectors. Among top movers, CrowdStrike Holdings surged 12.14%, Tower Semiconductor jumped 11.24% after outlining a major Japan expansion of 300mm capacity for AI and data centers, and Okta gained 10.81%. On the losing side, International Business Machines fell 25.21% after multiple analyst downgrades, Biogen declined 8.17% as CELIA Phase 2 diranersen data raised safety questions, and Nebius Group fell 7.80% following New York's statewide moratorium on hyperscale data centers.
Okta shares surge 11% to a new 52-week high on AI identity security upgrades
Okta shares jumped roughly 11% on Tuesday to close at $154.62, a gain of $15.09, after touching a fresh 52-week high of $155.55 during the session. The rally followed a wave of sell-side upgrades and price-target increases that frame Okta as a primary beneficiary of the growing need to secure AI agents and AI-driven workflows. KeyBanc reiterated a bullish stance and raised its price target, citing Okta’s leadership in securing AI agent identities across governance, runtime authentication, and gateways. Scotiabank upgraded Okta alongside several other cybersecurity names, arguing that frontier AI models are raising security risks and pushing chief information security officers toward larger budgets. Jefferies highlighted identity as a likely early Gen AI winner category within cybersecurity, naming Okta among the key players positioned to benefit.
Okta and Palo Alto Networks Stocks Surge After Joint Cyber Threat Warning
Okta and Palo Alto Networks shares jumped after U.S. and international security agencies issued a joint warning about Russian state-sponsored cyber threats targeting critical infrastructure. Identity management company Okta rose 10.2%, while network security firm Palo Alto Networks gained 6%. The Cybersecurity and Infrastructure Security Agency, together with the NSA and FBI, released an advisory stating that Russian cyber actors are exploiting vulnerable networking devices and routers, with sectors such as communications, energy, government, and healthcare being targeted globally. The alert underscored the growing need for advanced security solutions, driving investor interest in cybersecurity stocks.
CrowdStrike and other cybersecurity stocks surge after IBM warns of customer spending shift
CrowdStrike stock surged more than 9% on Tuesday alongside other cybersecurity names after IBM warned that enterprise customers had shifted spending away from traditional software in the most recent quarter. The Global X Cybersecurity ETF jumped more than 6%, while Fortinet, Okta, and Palo Alto Networks also rose during the session. IBM CEO Arvind Krishna said clients moved quarterly capex toward servers, storage, and memory to secure supply-constrained infrastructure ahead of expected price increases, and that rapidly-evolving cybersecurity concerns also drew customer focus. Investors viewed the comments as a sign that businesses were not cutting back on cybersecurity despite their spending on AI, benefiting pure-play firms like CrowdStrike, whose stock is up more than 90% year-to-date.
Vonage Launches Protection Suite for Okta for Secure MFA Delivery
Vonage, part of Ericsson, has launched the Vonage Protection Suite for Okta, a pre-built, self-service connector that enables Okta's enterprise customers to send one-time passwords with integrated advanced fraud protection powered by the mobile network. The solution combines Vonage Verify's intelligent routing and delivery with fraud protection through Identity Insights and Fraud Defender, validating phone numbers before OTP delivery to detect high-risk or compromised numbers and providing real-time fraud protection during delivery. It includes automatic SMS-to-Voice fallback, intelligent carrier routing, and automatic sender ID management for regulatory compliance. Available now through the Vonage Cloud Runtime Marketplace across more than 200 countries, the connector allows organizations to go from setup to first OTP delivery in minutes without custom development.
Okta Stock Jumps 3.4% After Scotiabank Upgrade to Outperform
Shares of identity management company Okta jumped 3.4% in morning trading after Scotiabank upgraded the stock to Outperform from Sector Perform and set a $165 price target. The firm views Okta as a beneficiary of artificial intelligence trends, expecting businesses to increase cybersecurity spending and modernize identity management systems as they prepare for AI. The move marks a new 52-week high for Okta, with shares up 76.9% year-to-date.
CrowdStrike Surges 5%, Palo Alto and Okta Gain 4% as Cybersecurity Stocks Rally on Analyst Upgrades
Cybersecurity stocks rallied Monday after Scotiabank upgraded Okta to Outperform with a $165 price target, framing identity vendors as AI beneficiaries. CrowdStrike shares rose 5%, Palo Alto Networks gained 4%, and Okta climbed 4%, while the Amplify Cybersecurity ETF advanced 3%. Okta CEO Todd McKinnon argued that AI agents are becoming a new enterprise workforce, creating a wave of identities that must be secured alongside humans. CrowdStrike and Palo Alto have surged 76% and 97% year to date, respectively, though their fundamentals support the AI-security thesis.
T-Mobile and Gilead Sciences Earn Buy Upgrades, Pfizer and Datadog Cut
T-Mobile and Gilead Sciences both received Buy upgrades on Monday, with Bank of America setting a $220 target on T-Mobile and HSBC setting a $155 target on Gilead. Pfizer was downgraded to Hold from Buy at HSBC, which trimmed its target to $28 from $32, while Datadog was cut to Market Perform from Outperform at Bernstein, though its target was raised to $226 from $180. Among other notable calls, Agnico Eagle Mines was upgraded to Buy at Jefferies with a $200 target, Okta was raised to Outperform at Scotiabank with a $165 target, and Delta Air Lines was cut to Outperform from Strong Buy at Raymond James with a target lifted to $104 from $80. New initiations included ERock with Outperform ratings from Evercore ISI and JPMorgan at a $28 target, and Glaukos with a Buy rating at H.C. Wainwright and a $168 target.
Cybersecurity stocks reported satisfactory first-quarter results, with aggregate revenues beating analyst consensus estimates by 1.6% and next-quarter revenue guidance in line. Okta posted revenue of $765 million, up 11.2% year-over-year and exceeding expectations by 1.7%, while Palo Alto Networks delivered the fastest revenue growth among peers at 31.1% to $3.00 billion, beating estimates by 2%. SentinelOne was the weakest performer, with revenue of $276.7 million, up 20.8% year-over-year but in line with estimates, and its billings and guidance missed expectations. Zscaler reported revenue of $850.5 million, up 25.4% year-over-year and topping estimates by 1.8%, and Varonis Systems posted revenue of $173.1 million, up 26.9% year-over-year and beating estimates by 4.6%, the biggest beat among the group. Since reporting, cybersecurity stocks have averaged a 16.7% share price increase.
Palo Alto Networks, CrowdStrike, Okta Surge on UBS Cybersecurity Forecast
Shares of Palo Alto Networks, CrowdStrike, and Okta rallied sharply Monday, extending strong year-to-date gains, after a UBS forecast projected 13% growth in the global cybersecurity market this year to $240 billion. Palo Alto Networks surged 9% to $331.91, CrowdStrike rose 7% to $747.84, and Okta gained 5% to $130.23, with year-to-date advances of 79%, 59%, and 51% respectively, far outpacing the NASDAQ 100's 16% gain. The UBS note, which did not assign new ratings or price targets, estimated the broader security and safety market would reach $974 billion in 2026 and $1.19 trillion by 2029, with cybersecurity as the largest growth driver. The rally also reflects a broad risk-on rotation into high-beta software names, though valuations remain stretched, with Palo Alto Networks trading at a trailing price-to-earnings ratio of 283.51 times and CrowdStrike at a forward multiple of 143 times. CrowdStrike's 4-for-1 stock split is set to take effect July 2, a potential catalyst for retail demand and short-term volatility.
SentinelOne Outperforms Okta as the Better Enterprise Cybersecurity Buy, Says Zacks
SentinelOne is the stronger buy compared to Okta among enterprise cybersecurity stocks, according to Zacks Investment Research. SentinelOne carries a Zacks Rank #2 (Buy) while Okta holds a Zacks Rank #3 (Hold). SentinelOne benefits from faster revenue growth, with annualized recurring revenues up 23% year over year to $1.16 billion, and its AI-native Singularity platform is gaining traction as non-endpoint solutions approach 50% of total ARR. Okta reported more than 20,000 total customers and 5,180 customers spending over $100,000 annually, with new products contributing about 25% of bookings, but faces competitive pressure and elongated sales cycles. Year to date, Okta shares have gained 43.7% while SentinelOne shares have risen 6.1%, though both stocks are considered overvalued with a Value Score of F.