Okta Inc (NASDAQ:OKTA) shares are trading higher Tuesday on the heels of the company’s better-than-expected financial results. Multiple analysts also upgraded the stock and raised price targets following the print.

• Q4 Revenue: $682 million, versus estimates of $669.46 million

• Q4 Adjusted EPS: 78 cents, versus estimates of 74 cents

Total revenue and subscription revenue was up 13% on a year-over-year basis.

Net cash provided by operations was $286 million, up from $174 million in the prior year's quarter. Okta generated free cash flow of $284 million in the quarter, up from $166 million year-over-year.

"Okta's strong financial results were highlighted by accelerating RPO and cRPO, coupled with record profitability and cash flow," said Todd McKinnon, co-founder and CEO of Okta.

"In a rapidly evolving IT and security landscape, organizations are turning to Okta as their identity partner for our ability to deliver the broadest array of modern identity security with the flexibility to meet their demands."

Guidance: Okta sees first-quarter revenue in the range of $678 million to $680 million versus estimates of $670.81 million. The company anticipates first-quarter adjusted earnings of 76 to 77 cents per share versus estimates of 70 cents per share.

Okta sees full-year 2026 revenue in the range of $2.85 billion to $2.86 billion versus estimates of $2.8 billion. The company expects full-year adjusted earnings of $3.15 to $3.20 per share versus estimates of $2.94 per share.

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Analyst Changes:

• DA Davidson analyst Rudy Kessinger upgraded Okta from Neutral to Buy and raised the price target from $90 to $125.

• Mizuho analyst Gregg Moskowitz upgraded Okta from Neutral to Outperform and raised the price target from $110 to $127.

• Canaccord Genuity analyst Richard Davis maintained a Hold and raised the price target from $94 to $100.

• Jefferies analyst Joseph Gallo maintained a Hold and raised the price target from $90 to $110.

• Needham analyst Mike Cikos reiterated a Buy rating and maintained a price target of $115.

• Barclays analyst Saket Kalia maintained an Equal-Weight and raised the price target from $105 to $115.

OKTA Price Action: Okta shares were up 15.1% at $100.28 at the time of publication Tuesday, per Benzinga Pro.

Photo: Shutterstock.