Okta Q1 Earnings Review, Shares Up 7 percent

Okta, Inc. (NASDAQ:OKTA) shares rose around 7% since the company’s reported Q1 results last week, with EPS coming in at ($0.27), better than the Street estimate of ($0.34). Revenue was $415 million, compared to the Street estimate of $389.05 million.
The company benefited from solid core growth, impressive success with Auth0 integration/cross-sell, and higher international contribution. Overall, underlying demand drivers remain strong, allaying investor concerns around a macro slowdown and potential negative impact from the recent security breach.
Analysts at Oppenheimer see significant near-term opportunity in CIAM with continued cross-selling, and believe the conservative guide assumes potential macro headwinds that have yet to present themselves, thereby de-risking numbers.

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