Okta Inc (NASDAQ:OKTA) – Investment analysts at William Blair upped their FY2018 earnings estimates for Okta in a report released on Wednesday, according to Zacks Investment Research. William Blair analyst J. Ho now forecasts that the company will post earnings of ($1.42) per share for the year, up from their prior forecast of ($1.50). William Blair also issued estimates for Okta’s Q4 2018 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.36) EPS, Q4 2019 earnings at ($0.35) EPS, FY2019 earnings at ($1.49) EPS and FY2020 earnings at ($1.40) EPS.
OKTA has been the topic of a number of other research reports. BidaskClub upgraded Okta from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Needham & Company LLC upped their target price on Okta from $38.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, March 8th. KeyCorp reiterated a “positive” rating and issued a $43.00 target price (up previously from $35.00) on shares of Okta in a report on Thursday, February 22nd. Oppenheimer increased their price objective on Okta from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Finally, SunTrust Banks increased their price objective on Okta to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $41.45.
Shares of Okta (NASDAQ:OKTA) traded down $0.59 on Monday, hitting $39.91. The stock had a trading volume of 1,403,533 shares, compared to its average volume of 1,815,820. The firm has a market cap of $4,040.00 and a P/E ratio of -33.70. Okta has a one year low of $21.52 and a one year high of $42.88.
Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.05. The company had revenue of $77.80 million for the quarter, compared to the consensus estimate of $76.77 million. Okta had a negative return on equity of 66.09% and a negative net margin of 43.99%. The business’s quarterly revenue was up 59.4% compared to the same quarter last year.
In other Okta news, General Counsel Jonathan T. Runyan sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $25.99, for a total transaction of $81,218.75. Following the completion of the sale, the general counsel now owns 3,125 shares of the company’s stock, valued at $81,218.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $38.93, for a total value of $97,325.00. Following the sale, the general counsel now directly owns 2,500 shares of the company’s stock, valued at approximately $97,325. The disclosure for this sale can be found here. Insiders sold 303,375 shares of company stock worth $9,225,047 in the last 90 days.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Okta during the third quarter worth approximately $128,000. Hershey Trust Co. bought a new stake in Okta during the fourth quarter worth approximately $195,000. Invictus RG bought a new stake in Okta during the third quarter worth approximately $211,000. The Manufacturers Life Insurance Company bought a new stake in Okta during the second quarter worth approximately $219,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Okta during the fourth quarter worth approximately $239,000. 39.10% of the stock is owned by hedge funds and other institutional investors.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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