Shares of Okta (NASDAQ: OKTA) soared over 15% in premarket trading on Tuesday after the IT security provider posted better-than-expected Q4 earnings and strong forward guidance, driven by rising demand for cybersecurity solutions.

Q4 Results: Beating Estimates

📊 Q4 Adjusted EPS: $0.78 (vs. $0.74 expected)
📊 Q4 Revenue: $682M (vs. $668.9M expected)
📊 cRPO (Booked Revenue Forecast): $2.185B-$2.190B (+12% YoY)

CEO Todd McKinnon highlighted that both workforce and customer identity products saw strong demand, with new product launches also contributing to growth.

Upbeat 2025 Guidance

🔹 Q1 EPS Forecast: $0.76-$0.77 (vs. $0.70 expected)
🔹 Q1 Revenue Outlook: $678M-$680M (vs. $669.4M expected)
🔹 Full-Year EPS Projection: $3.15-$3.20
🔹 Full-Year Revenue Target: $2.85B-$2.86B

With rising cloud adoption, AI-driven security, and machine identity protection, Okta is positioning itself for continued long-term growth.

Investor Takeaway: Cybersecurity Boom Driving Growth

Okta's solid earnings, strong guidance, and AI-powered security strategy have fueled investor optimism.

For a deeper financial analysis of Okta, check out:

• Full Financials API - Review Okta's financial statements and growth metrics.
• Company Rating API - Get analyst sentiment and risk assessments.

Bottom Line: Okta is benefiting from strong cybersecurity demand, making it a key stock to watch in 2024.