Okta Stock Rises On Better-Than-Expected Q4 Results: EPS Beat, Revenue Beat, Upbeat Guidance
Portfolio Pulse from Erica Kollmann
Okta, Inc. (NASDAQ:OKTA) reported Q4 earnings surpassing expectations with an EPS of 63 cents against a 51 cents estimate, and revenue of $605 million against a $587.5 million estimate. Subscription backlog and cRPO also saw year-over-year increases. The company provided an upbeat outlook for Q1 and FY 2025, with both EPS and revenue forecasts exceeding analyst expectations. Okta's stock rose 17.8% in after-hours trading.
February 28, 2024 | 9:41 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Okta reported better-than-expected Q4 results, with an EPS of 63 cents and revenue of $605 million, surpassing estimates. The company also provided positive guidance for Q1 and FY 2025.
Okta's Q4 earnings and revenue beat, along with positive future guidance, indicate strong financial health and growth prospects. This typically leads to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100