Why Okta Stock Is Rising Premarket Today

Identity and access management company Okta, Inc.'s (OKTA) shares climbed over 5% in the early premarket session on Wednesday.

The premarket rally in Okta stock followed the company's quarterly report that showed adjusted earnings per share (EPS) of $0.91 for the second quarter of fiscal year 2026, up from $0.72 in the year-ago quarter.

Revenue climbed 13% year-over-year (YoY) to $728 million, with subscription revenue ($711 million) climbing 12%.

The results exceeded the Fiscal.ai-compiled consensus estimates of $0.85 in adjusted EPS and $711.87 in revenue.

CEO and co-founder Todd McKinnon said, “Okta’s unified identity platform is winning customers ranging from the world’s largest global organizations to massive government agencies.”

“Our solid Q2 results are highlighted by continued strength in new product adoption, the public sector, Auth0, and cash flow.”

Subscription backlog climbed 18% YoY to $4.152 billion. 

Okta expects third-quarter adjusted EPS of $0.74-$0.75 and revenue in the range of $728 million to $730 million, versus the consensus estimates of $0.74 and $725.78 million.

The company also nudged up its full-year forecast, with the new range at $2.875 billion to $2.885 billion in revenue and $3.33 to $3.38 in adjusted EPS. The full-year outlook exceeded the consensus estimates of $2.862 billion and $3.28, respectively.

On Stocktwits, retail sentiment toward Okta stock improved to ‘extremely high’ (96/100) by early Wednesday, from ‘bullish’ a day ago. The message volume also increased to ‘extremely high’ levels.

Okta stock has gained more than 16% year-to-date.

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