Interpreting Earnings Announcement Effects on Stock Prices

In a recent $10-$Q filing,

Okta Inc

posted better$-$than$-$expected quarterly results and increased its financial

forecasts for the full year, reflecting continued strong demand for its identity software despite a weaker

economy. For its fiscal second quarter ended July $31,$ Okta posted revenue of $$452$ million, up $43\%$ from a

year ago, and ahead of the company$$s target range of $$428$ million to $$430$ million. Yet, on that day the stock

was down $18\%$ to $$74\mathrm{.}94.$ Why do you believe that the company$$s stock price fell despite the good news?