Okta (OKTA) stock returned 225% over the past six months, versus 14.4% for the S&P 500, and the company sells identity software to more than 20,000 customers. Investors pay 136.7 times trailing earnings, compared with 21.9 for the S&P 500, and Okta's net margin of 9.6% trails the index's 13.3%. Revenue grew 10.6% in the latest quarter and averaged 14.2% a year over three years, versus 5.9% for the S&P 500, and management raised its fiscal 2027 revenue growth outlook to 10% to 11%. AI agent products such as Okta for AI Agents won dozens of deals in fiscal Q2 2027, but management said AI is not expected to be material to fiscal 2027 and flagged a possible impact in fiscal 2028 and beyond. Newer products led by Okta Identity Governance made up about 30% of bookings in fiscal Q2 2027.
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