Why Okta Stock Was Soaring Today
Shares of Okta (NASDAQ: OKTA) were surging today after the cloud identity software company easily beat estimates in its third-quarter earnings report last night, and posted fourth-quarter guidance that was much better than expected.
As of 10:48 a.m. ET on Thursday, the stock was up 21.3% on the news.
Okta, which helps businesses ensure that users can securely and seamlessy connect to the apps they need, limped into the third-quarter earnings report after the stock was slammed in the previous report when management acknowledged challenges integrating the sales force from Auth0, the customer-identity software company it acquired last May.
Source Fool.com
