Okta Inc.
(NASDAQ:OKTA) stock surged Friday after delivering a stronger-than-expected quarter and raising its full-year outlook, prompting a broad wave of Wall Street price-forecast hikes as analysts pointed to accelerating demand for AI security and improving sales execution.
The software identity provider posted calculated remaining performance obligations (cRPO) growth of 12% year-over-year to $2.499 billion.
The company also raised its fiscal 2027 revenue outlook to $3.185 billion to $3.205 billion, modestly above the consensus estimate of $3.184 billion.
AI Agents Spark' Record Pipeline' Wall Street analysts noted that while Okta's newly launched AI security solutions are not yet major revenue contributors, they are driving unprecedented customer interest.
