We recently published an article titled These 10 Stocks Defied Tuesday's Bloodbath. In this article, we are going to take a look at where Okta, Inc. (NASDAQ:OKTA) stands against the other stocks.

The stock market fell further into negative territory on Tuesday as trade tensions between the US and its largest trading partners continued.

The Dow Jones fell the most, losing 1.55 percent, while the S&P 500 declined 1.22 percent. The Nasdaq dropped by 0.35 percent.

Following the start of President Donald Trump’s blanket 25-percent tax on goods from Canada and Mexico on Tuesday, and a 10-percent tax on Chinese imports, both Canada and China moved to retaliate with higher taxes on US imports. Mexico is also expected to follow suit.

Despite uncertainties, 10 companies managed to stay stronger, posting impressive gains mostly on the back of better earnings performance. In this article, we have detailed the reasons behind their gains.

To come up with Tuesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A close up view of a person's hands typing on a computer keyboard, emphasizing internet-based information technology services.

Okta, Inc. (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) skyrocketed by 24.27 percent on Tuesday to end at $108.31 apiece as investor sentiment was fueled by its impressive earnings performance.

During the last three months ending January 31, 2025, Okta, Inc. (NASDAQ:OKTA) said it swung to a net income of $23 million, reversing a net loss of $44 million in the same period a year earlier as revenues rose by 12.7 percent to $682 million from $605 million.

In the last twelve months alone, Okta, Inc. (NASDAQ:OKTA) posted a net income of $28 million, a reversal from the $355 million net loss a year earlier, as revenues grew by 15 percent to $2.6 billion from $2.26 billion.

Looking ahead, Okta, Inc. (NASDAQ:OKTA) expects the first quarter of fiscal year 2026 to record revenues between $678 million and $680 million, or a growth rate of 10 percent year-on-year.

For the full year of fiscal 2026, revenues were pegged at a range of $2.85 billion to $2.86 billion, or between 9 and 10 percent growth rate year-on-year.

Overall OKTA ranks 1st on our list of Tuesday's top gainers. While we acknowledge the potential of OKTA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKTA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.