Cybersecurity Stocks Surge 15% Following Double-Digit Growth Performance, Market Cap Increases by Over $40 Billion in a Day

Okta Inc. (NASDAQ: OKTA) saw its share price jump 15.08% on the Nasdaq on the 28th, closing at $103.10, with trading volume exceeding 6.4 million shares. Its market capitalization reached approximately $17.3 billion (around ₩26 trillion), swelling by over $3.1 billion (roughly ₩4.6 trillion) in a single day.

In its fiscal 2027 first-quarter results released that day, Okta reported revenue of $765 million and net income of $74 million, marking an 11% year-over-year increase in revenue. It provided guidance for full-year revenue of $3.19 billion to $3.21 billion and earnings per share of $3.79 to $3.87. The company is strengthening its strategy to capture AI-driven security demand with the launch of its enterprise AI agent management platform, “Okta for AI Agents,” at the end of April.

Headquartered in San Francisco, Okta offers enterprise identity and access management solutions, including cloud-based single sign-on, multi-factor authentication, and a Zero Trust security platform. Since its Nasdaq listing in 2017, it has competed with firms such as Microsoft. However, past security incidents—most notably the 2023 hack of its customer support system—have made investors focus on the company’s risk management capabilities as much as its growth prospects.