Shares of Okta (NASDAQ: OKTA) soared over 15% in premarket trading on Tuesday after the IT security provider posted better-than-expected Q4 earnings and strong forward guidance, driven by rising demand for cybersecurity solutions.
\ud83d\udcca Q4 Adjusted EPS: $0.78 (vs. $0.74 expected)
\ud83d\udcca Q4 Revenue: $682M (vs. $668.9M expected)
\ud83d\udcca cRPO (Booked Revenue Forecast): $2.185B–$2.190B (+12% YoY)
CEO Todd McKinnon highlighted that both workforce and customer identity products saw strong demand, with new product launches also contributing to growth.
\ud83d\udd39 Q1 EPS Forecast: $0.76–$0.77 (vs. $0.70 expected)
\ud83d\udd39 Q1 Revenue Outlook: $678M–$680M (vs. $669.4M expected)
\ud83d\udd39 Full-Year EPS Projection: $3.15–$3.20
\ud83d\udd39 Full-Year Revenue Target: $2.85B–$2.86B
With rising cloud adoption, AI-driven security, and machine identity protection, Okta is positioning itself for continued long-term growth.
Okta’s solid earnings, strong guidance, and AI-powered security strategy have fueled investor optimism.
For a deeper financial analysis of Okta, check out:
Bottom Line: Okta is benefiting from strong cybersecurity demand, making it a key stock to watch in 2024.
