Why Okta Stock Popped Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Okta Stock Popped Today

Shares of Okta (NASDAQ: OKTA) were climbing today after the identity-for-the-cloud specialist delivered another strong earnings report last night. Okta, which provides software tools to allow for seamless and secure sign-in and login management for employees and customers, beat estimates on both the top and bottom lines, and put up impressive growth in other key metrics. The company continues to see a steady uptick in customers, adding 450 to 9,400, and Okta now has more than 300 customers generating $500,000 in annual revenue, showing it's making steady progress with large enterprises.