Okta shares fall as company declines to give guidance for next fiscal year
Summary
Okta beat third-quarter estimates and reported strong revenue and profit growth, but the stock fell after the company declined to give fiscal 2027 guidance. The company cited fourth-quarter seasonality and said it wanted to avoid overly conservative outlook assumptions. Okta also released a capability that lets businesses build AI agents and automate tasks, which it says could become a major growth area. Management pointed to rising subscription revenue and backlog as signs of continued demand. The update matters for buyers evaluating identity, security, and AI automation platforms.
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Web and Content Management
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Identity and Access Management
Cybersecurity Software
SaaS
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Okta
$1M to $5M