Investors Are Buying Okta Stock Thursday Morning: What's Going On?
Portfolio Pulse from Adam Eckert
Okta Inc (NASDAQ:OKTA) shares surged after reporting strong Q1 financial results and issuing positive guidance. The company exceeded revenue and EPS estimates, and raised its full-year guidance. Evercore ISI upgraded the stock, and Needham reiterated a Buy rating.
May 30, 2024 | 1:17 pm
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POSITIVE IMPACT
Okta Inc reported strong Q1 results, exceeding revenue and EPS estimates. The company also raised its full-year guidance and received an upgrade from Evercore ISI. Shares are up 4.3%.
Okta's strong Q1 performance, exceeding both revenue and EPS estimates, along with raised full-year guidance, indicates robust business health. The upgrade from Evercore ISI and positive outlook further boost investor confidence, leading to a 4.3% increase in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100