Okta Stock News

Okta stock has surged ahead of an investor day as Wall Street weighs whether AI will drive the cybersecurity firm's next growth phase.

SAN FRANCISCO--(BUSINESS WIRE)--Okta, Inc. (Nasdaq: OKTA), the leading independent identity provider, today announced the appointment of Helen Riley to the company's board of directors, effective as of today.“Helen brings two decades of deep financial and operational experience from her time at companies solving some of the world's most challenging problems with AI,” said Todd McKinnon, Okta CE...

J.P. Morgan sees CrowdStrike, Palo Alto Networks, Okta, Zscaler, and Varonis benefiting as AI adoption drives greater demand for cybersecurity.

Okta Inc (OKTA) shares climbed to a new year-to-date high on Thursday morning after the identity security company posted a blockbuster Q2 and raised its guidance for the full year. The upbeat release prompted a fresh wave of bullish analyst calls, with RBC raising its price target for OKTA to $195 and Citizens lifting it to $180 per share.

CrowdStrike and Okta popped after beating Wall Street's expectations and lifting guidance due to AI adoptions The rise of advanced but potentially risky AI models has led customers to spend on more cyber tools.

Okta Inc (NASDAQ:OKTA) shares are set to open about 18% higher on Thursday after the identity management software company reported fiscal second-quarter results that beat Wall Street expectations for revenue and adjusted earnings. Okta reported total revenue of $805 million for the quarter ended July 31, up 11% from $728 million a year earlier and ahead of estimates of about $794 million.

The cybersecurity companies are benefiting from AI adoption that is driving demand for security products.