On May 28, Okta Inc. rose 5.03% in after-hours trading, trading at $100.51/share, with trading volume of $57.14 million. The stock surged following the release of first fiscal quarter results that exceeded Wall Street expectations on all key metrics.

Okta reported adjusted earnings per share of $0.91, beating the analyst consensus estimate of $0.85 by 7.06% and representing a 5.81% year-over-year increase. Revenue came in at $765 million, surpassing the expected $752 million while maintaining double-digit year-over-year growth. The company also raised its full fiscal year outlook, signaling management confidence in sustained momentum.

The earnings release capped a strong session for the stock, which had already gained over 5% during regular trading hours after Arete upgraded Okta from sell to buy and raised its price target from $83 to $127. According to FactSet, analysts maintain an average overweight rating with a mean target price of $100.72.

Okta, Inc. is a leading independent identity provider whose Okta Identity Cloud platform enables customers to securely connect people with technology at any place, any time, and on any device.

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