Key facts
- Okta's Q1 FY2027 revenue was $765 million, an 11% increase year-over-year.
- Adjusted EPS for Q1 FY2027 was $0.91.
- Okta's stock rose 30% on May 29 following the earnings release.
- The company raised its full-year FY2027 revenue growth guidance to 9–10%.
- Okta raised its full-year FY2027 adjusted EPS forecast to $3.79–$3.87.
- UBS raised its price target on OKTA to $130.
Okta, Inc. reported strong first-quarter fiscal year 2027 results, with revenue reaching $765 million, an 11% increase year-over-year, surpassing analyst estimates of $752 million. Adjusted earnings per share (EPS) of $0.91 also exceeded the consensus estimate of $0.85. Following these results, Okta's stock surged 30% on May 29 and is up 63% since February. The company raised its full-year FY2027 revenue growth guidance to 9–10% and its adjusted EPS forecast to $3.79–$3.87. CEO Todd McKinnon highlighted significant pipeline interest for Okta and Auth0 for AI Agents, describing it as unprecedented. CFO Brett Tighe noted that multi-cloud AI agent deals are larger than average, with enterprise customers prioritizing AI security spending. Analysts at UBS reiterated a Buy rating and increased their price target to $130, citing Okta's expanded platform coverage in identity management and the potential for AI to drive future growth. Okta Identity Governance has also transitioned into a standalone product, attracting new customers.