Okta CEO on the quarterly reports debate: Less obsession with numbers, more conversation with investors

Company Performance - Okta reported Q2 earnings that exceeded expectations, with revenue reaching $728 million, surpassing consensus estimates of $711 million, and earnings per share at $0.91 compared to the expected $0.84 [1][2] - The company raised its full-year revenue outlook to between $2.875 billion and $2.885 billion, indicating a year-over-year increase of 10% to 11% [2] - For Q3, Okta's revenue forecast is more cautious, projecting $728 million to $730 million, which reflects a growth of 9% to 10% [2] Market Position and Strategy - Okta is competing for market share against larger companies like Microsoft and Palo Alto Networks, making quarterly performance scrutiny critical for investors [3] - The stock is currently trading around $90, significantly lower than its pandemic-era high of over $290, suggesting limited patience for long-term promises from investors [3] Analyst Insights - JPMorgan's Brian Essex expressed optimism after meeting with Okta executives, noting record pipeline levels and strong public sector wins, while maintaining an Overweight rating with a price target of $92.77 [4] - Evercore ISI analyst Peter Levine described Okta's quarter as "well executed" and highlighted the $100 million acquisition of Axiom Security as a potential differentiator in the AI security market, issuing an Outperform rating with a target price of $130 [5]