On August 27, Okta Inc. rose 20.26% in pre-market trading, trading at $162.26/share, with turnover of $595,100.

The surge was driven by the company's fiscal Q2 results that comprehensively exceeded market expectations, coupled with its second full-year guidance raise this fiscal year. Okta reported Q2 adjusted EPS of $1.05, beating the consensus estimate of $0.97 by 8.25%, representing a 15.38% increase from $0.91 in the year-ago period. Revenue reached $805 million, up 11% year-over-year, surpassing the $793 million analyst estimate.

Looking ahead, management guided Q3 revenue of $813-$817 million versus the $808.1 million consensus, with non-GAAP EPS of $0.92-$0.94. Full-year fiscal 2027 guidance was lifted to revenue of $3.22-$3.23 billion (from $3.19-$3.21 billion) and adjusted EPS of $3.90-$3.94 (from $3.79-$3.87), both above consensus. Additionally, reports emerged that Palo Alto Networks had explored acquiring Okta over the past 18 months, underscoring the company's strategic value in the identity security market.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)