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  • Okta's "Record Profitability" 🚀

Okta's "Record Profitability" 🚀

Plus, Bitcoin's reserve gains fade.

March 04, 2025

Today is Tuesday, March 4, 2025.

The Early Bird Index today is 71.97

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Okta's "Record Profitability" 🚀 

Okta (Nasdaq: OKTA) posted strong financial earnings results on Monday, causing shares of the identity and access management company to surge 15.87% in after-hours trading.

Financials: Okta reported earnings of 78 cents per share and revenue of $682 million in the past quarter; both were better than expected.

Powering the Story: Revenue increased 13% as the company declared “record profitability and cash flow” during the quarter.

Quote: “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.” - CEO Todd McKinnon.

Early Bird’s Nest Egg Gains: Besides its strong financial performance, 2025 could be a favorable environment for Okta.

  • More organizations are turning to Okta and this trend is likely to continue as cybersecurity remains a top priority for businesses.

  • The company's AI-driven features, called Okta AI, are enhancing user experiences and improving cyber threat defense.

Final Thoughts: This is a turnaround for Okta. The stock was down 20% in the last 12 months.

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Notables

Notable Earnings Today: Target (NYSE: TGT), Best Buy (NYSE: BBY), CrowdStrike Holding (Nasdaq: CRWD), Nordstrom (NYSE: JWN), Flutter Entertainment (NYSE: FLUT), Ross Stores (Nasdaq: ROST), AutoZone (NYSE: AZO), ON Semiconductor (NYSE: ONON), ChargePoint Holdings (NYSE: CHPT), Paysafe (NYSE: PSFE), EVgo (Nasdaq: EVGO), Box (NYSE: BOX), Sea Ltd. (NYSE: SE), Genius Sports (NYSE: GENI), Credo Technology Group (Nasdaq: CRDO), AeroVironment (Nasdaq: AVAV), Evolus (Nasdaq: EOLS), Nayax (Nasdaq: NYAX), Olaplex (Nasdaq: OLPX), Orion Group Holdings (NYSE: ORN).

Notable IPOs Today: Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS).

Notable Equity Crowdfunding Campaigns Ending Today: Maggie’s Farm Rum (Honeycomb), Moneco (Wefunder).

Notable Economic Events Today: API Weekly Crude Oil Stock (4:30 p.m. ET).

Bitcoin's Reserve Gains Fade

Bitcoin fell 9% on Monday, losing virtually all of its recent gains from this past weekend’s Cryptocurrency Strategic Reserve announcement.

Powering the Story: Fading optimism from the Crypto Strategic Reserve hit the price. Bitcoin traders are also worried about the new tariffs from President Trump.

Final Thoughts: The price of Bitcoin is down about 9% in 2025. These past few days should serve as a reminder about the volatility of crypto.

GitLab Posts Solid Financial Results

Shares of GitLab (Nasdaq: GTLB) ticked up 1.90% in after-hours trading on Monday after the technology company posted good financial earnings results.

Financials: GitLab reported earnings of 33 cents per share and revenue of $211.4 million in the past quarter; both were better than expected.

Also: The company announced a new chief revenue officer on Monday.

Final Thoughts: GitLab’s stock is down 24% in the last 12 months. 

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.