Okta, Inc. · OKTA · FY2026 Q4 · Calendar Q1 2026

Okta closes FY26 with AI-agent momentum and measured FY27 outlook

The supplied analysis supports a cautiously constructive view: strong enterprise execution, early AI-agent bookings, and partner expansion provide growth support, while the 9% FY27 revenue outlook, flat net dollar retention, and unproven AI-agent economics temper the case for durable acceleration.

Reported After market closeNASDAQTechnology $35.32B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.90 Consensus $0.85
EPS surprise +6.4% Reported versus consensus
Reported revenue $761.0M Consensus $749.5M
Revenue surprise +1.5% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +11.0% Event window
SPY move -0.6% Same window
Abnormal move +11.6% Stock minus SPY
Volume 2.5× Versus trailing sessions
Subsequent drift +0.7% Up to 20 sessions
OKTASPY benchmark

Ask FN2 about OKTA FY2026 Q4

Transcript, numbers and history already loaded
Why did OKTA rise 11.0% after beating EPS estimates in FY2026 Q4?What changed in OKTA's guidance and outlook in FY2026 Q4?Give me the bull and bear case for OKTA after FY2026 Q4 earnings.

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Okta moved from a prior-quarter focus on raised FY26 guidance and AI-agent launch activity to a completed FY26 with about $3 billion of ARR, roughly $1.3 billion of Q4 contract value, early AI-agent booking traction, and explicit FY27 guidance. The company also highlighted a $1 billion repurchase program.

Guidance delta

Management maintained its outlook and introduced FY27 guidance for 9% revenue growth, 25%-26% non-GAAP operating margin, and 27%-28% free cash flow margin.

Key takeaways

  • Management said Q4 contract value reached about $1.3 billion and ARR reached $3 billion.
  • AI-agent offerings accounted for about 30% of new product bookings and included a reported 40% contract uplift.
  • Management identified enterprise, federal, and partner-led deals as key growth channels.
  • The FY27 outlook pairs 9% revenue growth with 25%-26% non-GAAP operating margins and 27%-28% free cash flow margins.

Management priorities

  • Scale Auth0 for AI Agents and Okta for AI Agents.
  • Expand sales specialization and capacity.
  • Target U.S. federal and other regulated-industry customers.
  • Deepen global-system-integrator and AWS Marketplace partnerships.

Follow OKTA with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
OKTA REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q3 '24 estimate $563M Q3 '24 actual $584M, beat Q4 '24 estimate $588M Q4 '24 actual $605M, beat Q1 '25 estimate $604M Q1 '25 actual $617M, beat Q2 '25 estimate $633M Q2 '25 actual $646M, beat Q2 '26 estimate $712M Q2 '26 actual $728M, beat Q3 '26 estimate $731M Q3 '26 actual $742M, beat Q4 '26 estimate $750M Q4 '26 actual $761M, beat Q1 '27 estimate $752M Q1 '27 actual $765M, beat Q2 '27 estimate $793M Q2 '27 actual $805M, beat Q3 '27 estimate $816M Q4 '27 estimate $838M Q1 '28 estimate $841M Q2 '28 estimate $883M
Show less

Analyst Consensus ?

ConsensusBuy52 ratings
Bullish3975.0%
Neutral1223.1%
Bearish11.9%

Analyst 52W Price Targets

$214.19Current
$45Low
$167.96Average
$283High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 2, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Morgan Stanley Overweight OverweightMaintainSep 29, 2026
Scotiabank Sector Outperform Sector OutperformMaintainSep 28, 2026
Citizens Market Outperform Market OutperformMaintainSep 28, 2026
Truist Securities Buy BuyMaintainSep 25, 2026
Stephens & Co. Overweight OverweightMaintainSep 25, 2026
Show 47 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $214.19. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
ScotiabankPatrick Colville$245$197.4 +14.4%Sep 28, 2026
StephensTodd Weller$240$206.64 +12.1%Sep 25, 2026
BMO CapitalAnalyst unavailable$230$206.64 +7.4%Sep 25, 2026
Robert W. BairdAnalyst unavailable$235$206.64 +9.7%Sep 25, 2026
KeyBancAnalyst unavailable$240$206.64 +12.1%Sep 24, 2026
See 222 more

Track every rating change on OKTA the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Okta, Inc. delivers comprehensive identity management solutions tailored for a diverse clientele, including large corporations, small and medium-sized businesses, educational institutions, charitable organizations, and governmental bodies, operating both within the United States and globally. The company's flagship offering is the Okta Identity Cloud, a robust platform featuring a suite of integrated products and services. These include a Universal Directory, a cloud-based system designed to securely store and manage user, application, and device profiles; Single Sign-On (SSO), enabling seamless access to cloud-based or on-premises applications from multiple devices; and Adaptive Multi-Factor Authentication, which adds an extra layer of security for various applications and data.…

Historical context

All OKTA earnings
+28.6%FY2027 Q2 · Calendar Q3 2026+30.1%FY2027 Q1 · Calendar Q2 2026

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
ACN Accenture plc FY2026 Q4 · Calendar Q4 2026 +3.5% +15.8% Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks
JBL Jabil Inc. FY2026 Q4 · Calendar Q3 2026 +8.1% -10.0% Jabil enters FY2027 with AI-led growth and capacity risks
MU Micron Technology, Inc. FY2026 Q4 · Calendar Q3 2026 +5.4% +0.0% Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead
SNX TD Synnex Corp FY2026 Q3 · Calendar Q3 2026 +20.9% -9.9% TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter
ADBE Adobe Inc. FY2026 Q3 · Calendar Q3 2026 +0.8% +1.4% Adobe raises FY26 outlook as AI strategy broadens
ORCL Oracle Corporation FY2027 Q1 · Calendar Q3 2026 +10.3% -1.7% Oracle raises FY27 outlook as AI demand accelerates cloud growth

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

Get the OKTA recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
  3. Polygon adjusted daily market bars · 2026-10-02T12:36:05.227410+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T12:36:05.224181+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.