Okta shares rise 5.46% intraday after reporting Q3 results that beat estimates and raising full-year guidance.

Okta (OKTA) surged 5.46% intraday after reporting third-quarter results that exceeded analyst expectations and raising its fourth-quarter guidance. The identity management firm posted revenue of $742 million, up 11.6% year-over-year, surpassing the $730 million consensus, while non-GAAP earnings of $0.82 per share beat estimates. Okta also raised its full-year guidance and highlighted strong demand for AI-enabled security solutions, including a major financial sector deal. The stock’s intraday rally, though slightly cooling to a 4.8% close gain, reflects market optimism about its profitability, margin expansion, and strategic positioning in AI security. Analysts noted the 17% growth in remaining performance obligations ($4.29 billion) and 24% non-GAAP operating margin as key drivers, though mixed post-earnings sentiment and insider selling tempered immediate enthusiasm.