Okta Stock Soars 21.5% on Stellar Earnings Performance

Okta's stock surged by 21.5% on Thursday to close at $163.37 after the identity and access management company reported impressive second-quarter fiscal 2027 earnings that exceeded analyst projections.

The company delivered adjusted earnings of $1.05 per share, surpassing the estimated $0.96, while total revenue for the quarter reached $805 million, marking a 10.6% year-over-year growth and exceeding the anticipated $793 million.

Okta's bookings performance was particularly strong in Q2, representing its most robust result outside of Q4 in company history, with current remaining performance obligations expanding 14.1% year over year.