Okta Inc Stock Price, News & Analysis

Okta, Inc. (NASDAQ:OKTA) announced expanded partnerships with Crate and Barrel and NTT DATA, enhancing their identity management solutions. The company reported reaching 10,000 customers by the end of Q4 FY2021, showcasing robust growth. Crate and Barrel aims to improve customer experience through Okta's Identity Cloud, while NTT DATA focuses on unifying identity solutions for its global operations. Both partnerships underline the increasing significance of secure identity strategies in modern business.

Okta (NASDAQ:OKTA) has announced its acquisition of Auth0, a leader in identity solutions, for approximately $6.5 billion in stock. This move aims to enhance Okta's position in the $55 billion identity market by combining their platforms, providing greater choice and capabilities for organizations. Auth0 will operate independently but benefit from integration with Okta's offerings. The deal, approved by both companies' boards, is expected to close in the second quarter of fiscal year 2022, pending regulatory approvals.

Okta, Inc. (Nasdaq: OKTA) reported strong financial results for the fourth quarter and fiscal year ended January 31, 2021. Fourth quarter revenue reached $234.7 million, a 40% year-over-year increase, with subscription revenue of $225.4 million, up 42%. Remaining Performance Obligations (RPO) grew by 49% to $1.80 billion. Despite a GAAP net loss of $75.8 million, Okta achieved a non-GAAP net income of $8.0 million. The company forecasts Q1 fiscal 2022 revenue between $237 million to $239 million and full-year revenue of $1.08 billion to $1.09 billion, reflecting strong growth prospects.

Okta, Inc. (NASDAQ: OKTA) has announced it will release its financial results for Q4 and fiscal year 2021, ending January 31, 2021, after U.S. market close on March 3, 2021. A video webcast is scheduled for the same day at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. The Okta Identity Cloud continues to enable over 9,400 organizations to securely connect their workforces with more than 6,500 pre-built integrations, showcasing its strong market position.

Okta, Inc. (NASDAQ: OKTA) announced participation in several upcoming investor conferences. Key events include:

• UBS Global TMT Virtual Conference: Frederic Kerrest, COO, presenting on December 9, 2020.
• Goldman Sachs Technology and Internet Conference: Todd McKinnon, CEO, presenting on January 12, 2021.
• 23rd Annual Needham Virtual Growth Conference: Bill Losch, CFO, presenting on January 14, 2021.

Live webcasts will be available on Okta's investor relations website, with replays following the events.

Okta, a leader in identity management, announced at AWS re:Invent 2020 that its Okta Identity Cloud is now available in the AWS Marketplace. This allows global customers to purchase identity products seamlessly while integrating with AWS services like AWS Control Tower. The partnership aims to streamline cloud migration for enterprises, enhancing security and management of sensitive data. Okta's robust network of integrations supports organizations amidst a growing need for secure identity solutions in a remote work environment.

Okta, Inc. (NASDAQ:OKTA) reports robust developments in the financial services sector, expanding partnerships with notable clients such as Canadian Western Bank and First National of Nebraska. The company announced its third fiscal quarter performance, growing its customer base to 9,400 organizations. Key achievements include the deployment of Okta’s identity solutions across various financial institutions, improving security and user experience. CEO Todd McKinnon emphasizes the importance of trust and seamless digital experiences in financial services as companies undergo digital transformation.

Okta, Inc. (NASDAQ: OKTA) reported robust financial results for Q3 FY2021, ending October 31, 2020. Total revenue reached $217.4 million, marking a 42% year-over-year growth. Subscription revenue stood at $206.7 million, up 43%. Remaining Performance Obligations (RPO) increased to $1.58 billion, with current RPO at $753.2 million, rising 46% year-over-year. Despite a GAAP net loss of $72.8 million, Okta's non-GAAP net income was $5.7 million. The company raised its fiscal year outlook, forecasting revenue of $822 million to $823 million for 2021.

Okta, Inc. (NASDAQ:OKTA) has been recognized as a Leader in the Gartner Magic Quadrant for Access Management for the fourth consecutive year. Gartner notes Okta as a top provider with advanced tools for identity and access management. The company is the only vendor to achieve a Leader position in all seven IDaaS and Access Management Magic Quadrants. Okta emphasizes its commitment to customers and innovation in identity management, highlighted by recent product launches and virtual events, including Oktane20, drawing tens of thousands of attendees.