From CNBC: 2025-03-04 14:42:59

Okta Inc. CEO Todd McKinnon was all smiles as the company’s shares surged 22% following strong fourth-quarter earnings that beat analyst estimates. The cloud-based identity management company posted adjusted earnings of 78 cents per share and revenue of $682 million, topping expectations and projecting first-quarter revenue between $678 million and $680 million.

McKinnon referred to it as a “blowout quarter” as bookings exceeded $1 billion for the first time, positioning Okta as a leader in the identity market. The company offers tools like single sign-on and multifactor authentication for managing employee access and devices. Analysts from firms like D.A. Davidson and Mizuho upgraded their ratings due to Okta’s growth potential and product offerings.

Despite a high-profile data breach in late 2023, Okta’s stock has rallied about 35% this year, rebounding from a 13% slump in 2024. Wall Street firms are optimistic about Okta’s future growth, with D.A. Davidson citing “durable” double-digit growth potential and Mizuho recognizing the upside in committed remaining performance obligations. Okta remains a key player in the identity management market.



Read more at CNBC:: Okta pops on Q4 earnings report