OKTA - Okta Stock Falls Despite Strong Revenue Growth. Is This a Golden Opportunity to Buy?
2024-06-03 05:25:00 ET
Share prices of Okta (NASDAQ: OKTA) slid following its fiscal 2025 first-quarter earnings report (for the quarter ending April 30) despite the cybersecurity company reporting strong revenue growth and increasing guidance.
Let's dive into the company's most recent results to see why the stock fell and whether or not this is a great time to buy.
Okta's overall revenue climbed 19% year over year in Q1 to $617 million, while subscription revenue jumped 20% to $603 million. Adjusted earnings per share (EPS) soared from $0.22 a year ago to $0.62. The company had guided for 16% to 17% revenue growth and adjusted EPS between $0.54 and $0.55.
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Okta Stock Falls Despite Strong Revenue Growth. Is This a Golden Opportunity to Buy?