Okta Inc. (NASDAQ:OKTA) is one of the Ten stocks with explosive returns.
Okta saw its share prices rise to a new four-year high on Friday as investor confidence was boosted by its strong earnings performance in the first quarter of fiscal 2027.
In intraday trading, shares rose to a record high of $124.79 before paring gains to end the session up 30.14 percent at $123.27 each.
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In a statement, Okta Inc. (NASDAQ:OKTA) said it increased its net income during the period by 19 percent to $74 million from $62 million.
Revenue rose 11 percent to $765 million, thanks to an 11 percent increase in subscription revenue to $750 million.
“AI agents are rapidly becoming a new workforce within every organization, creating a wave of identities that must be protected and governed alongside human users,” said Okta Inc. (NASDAQ:OKTA) CEO Todd McKinnon.
“We are expanding our opportunity as the world’s leading independent, neutral identity provider and helping clients make identity the unified control plane for their secure agency business,” he said.
Looking ahead, Okta Inc. (NASDAQ:OKTA) is confident about the prospects for its business, with second-quarter revenue expected to grow 9 percent year-over-year to $790 million.
For the full fiscal year, total revenue is projected between $3.185 billion and $3.205 billion, representing 9 to 10 percent year-over-year growth.
While we recognize OKTA’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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