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Investors Are Buying Okta Stock Thursday Morning: What’s Going On?

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Okta Inc (NASDAQ:OKTA) shares are getting a lift Thursday after the company reported strong first-quarter financial results and issued upbeat guidance. Evercore ISI also upgraded the stock following the print.

  • Q1 Revenue: $617 million, versus estimates of $604.339 million
  • Q1 EPS: 65 cents, versus estimates of 55 cents

Total revenue was up 19% on a year-over-year basis. Subscription revenues came in at $603 million, up 20% on a year-over-year basis. Current remaining performance obligations totaled $1.949 billion at the quarter end, up 15% year-over-year.

Outlook:¬†Okta sees fiscal second-quarter revenue in the range of $631 million to …

Full story available on Benzinga.com

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