TSX runs higher on rate cut expectations
Investing.com - Citizens analyst Trevor Walsh reiterated a Market Perform rating on Okta, Inc (NASDAQ:OKTA) following the company’s better-than-expected fiscal second-quarter 2026 results. According to InvestingPro data, 41 analysts have recently revised their earnings expectations upward for the upcoming period.
Okta reported non-GAAP earnings per share of $0.93, exceeding the consensus estimate of $0.84, while revenue reached approximately $728.0 million, up 13% year-over-year and ahead of the $711.6 million consensus.
The identity management company achieved a non-GAAP operating margin of 27.7%, outperforming the consensus expectation of 25.9% for the quarter.
CEO Todd McKinnon emphasized the company’s strategy, stating, "Our strategy is to be the one-stop shop for identity. That’s what customers want. They want fewer identity vendors." McKinnon noted that one of the world’s largest high-tech companies is replacing 50 identity vendors with Okta.
Okta stock has gained approximately 23% year-to-date, including a roughly 6% increase in after-hours trading following the results, outperforming the Russell 3000 index’s 9.2% gain during the same period.
In other recent news, Okta Inc . reported its earnings for the second quarter of fiscal year 2026, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $0.91, exceeding the forecasted $0.84. This represents an 8.33% earnings surprise. Okta also reported a revenue of $728 million, which surpassed projections of $711.19 million. These results highlight the company’s strong financial performance in the recent quarter. The earnings announcement led to a positive reaction in the market, as indicated by the stock price movement in aftermarket trading. These developments are significant for investors monitoring Okta’s financial health and performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.