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Why Okta Stock Rocketed Higher Thursday Morning

TheMotleyFool 
0 0 29.02.24
Why Okta Stock Rocketed Higher Thursday MorningPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png
 

Shares of (NASDAQ: OKTA) surged out of the gate Thursday morning, gaining as much as 28.4%. As of 11:30 a.m. ET, the stock was still up 20.8%.

The catalyst that sent the cybersecurity specialist soaring was its quarterly earnings results, which suggested the company may finally be on the path to recovery.

For its fiscal 2024 fourth quarter (ended Jan. 31), Okta generated revenue of $605 million, up 19% year over year, fueled by subscription revenue of $591 million, which grew 20%. The company's focus on costs boosted its bottom line, as adjusted earnings per share (EPS) of $0.68 more than doubled.

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Source Fool.com

Okta Inc. Stock

€127.96
2.760%
There is an upward development for Okta Inc. compared to yesterday, with an increase of €3.44 (2.760%).
With 85 Buy predictions and 3 Sell predictions Okta Inc. is one of the favorites of our community.
On the other hand, the target price of 119 € is below the current price of 127.96 € for Okta Inc., so the potential is actually -7.0%.
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