{
  "id": 4152287,
  "title": "Okta Inc (OKTA) on Record High Amid AI Boom; Hedge Funds Raise Exposure",
  "url": "https://urgent.news/2026/08/28/okta-inc-okta-on-record-high-amid-ai-boom-hedge-funds-raise-exposure",
  "topic": "ai",
  "section": "AI",
  "published": "2026-08-28T05:39:59.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/okta-inc-okta-record-high-053959842.html"
  },
  "original_language": "en",
  "account": "Okta Inc. (OKTA) experienced a record high in share price on Thursday, as the company reported impressive earnings for the second quarter of fiscal year 2027, showcasing substantial gains from the expanding artificial intelligence sector. The stock reached a record high of $174.85 during intraday trading before settling at $172.91, marking a 28.63 percent increase from the previous quarter. Net income surged to $116 million, a significant rise from $67 million in the same period last year, while total revenues expanded by 10.6 percent to $805 million, with subscription revenues leading the way at $793 million, a 11.5 percent rise from $711 million. The company's Q2 performance was driven by accelerated cRPO (current Remaining Performance Obligations), a positive track record with significant clients, and robust profitability and cash flow, as highlighted by Okta Inc.'s Chief Finance Officer Brett Tighe. With the data indicating a surge in institutional investors, 58 hedge funds now hold positions in Okta Inc., with a conviction strengthening by 36 percent to $1.768 billion in the second quarter, compared to $1.3 billion in the previous quarter, signaling growing confidence in the company's long-term growth prospects in the security software sector.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}