These Analysts Revise Their Forecasts On Okta After Upbeat Q2 Earnings

Core Insights - Okta, Inc. reported better-than-expected second-quarter financial results and raised its FY26 guidance above estimates [1][3] Financial Performance - Second-quarter revenue was $728 million, exceeding analyst estimates of $712.01 million [1] - Adjusted earnings for the second quarter were 91 cents per share, surpassing analyst expectations of 84 cents per share [1] - For the third quarter, Okta expects revenue between $728 million and $730 million, compared to estimates of $723.55 million [2] - Anticipated third-quarter adjusted earnings are projected to be between 74 to 75 cents per share, slightly below the estimate of 75 cents per share [2] Guidance Update - Okta raised its full-year fiscal 2026 revenue guidance to a range of $2.875 billion to $2.885 billion, up from the previous guidance of $2.85 billion to $2.86 billion [3] - Full-year adjusted earnings guidance was also increased to $3.33 to $3.38 per share, up from the prior range of $3.23 to $3.28 per share [3] - Analysts are forecasting full-year revenue of $2.864 billion and earnings of $3.28 per share [3] Market Reaction - Following the earnings announcement, Okta shares increased by 2.5% to $93.82 [3] Analyst Ratings and Price Targets - RBC Capital analyst maintained an Outperform rating and raised the price target from $113 to $115 [6] - Scotiabank analyst maintained a Sector Perform rating but lowered the price target from $115 to $105 [6] - Baird analyst kept an Outperform rating while reducing the price target from $148 to $142 [6] - BMO Capital analyst maintained a Market Perform rating and decreased the price target from $132 to $112 [6] - Jefferies analyst maintained a Hold rating and raised the price target from $100 to $105 [6]