Equities analysts forecast that Okta Inc (NASDAQ:OKTA) will post earnings of ($0.05) per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Okta’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.09). Okta reported earnings of ($0.04) per share during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The firm is expected to issue its next earnings report on Thursday, March 5th.
On average, analysts expect that Okta will report full-year earnings of ($0.36) per share for the current financial year, with EPS estimates ranging from ($0.43) to ($0.34). For the next fiscal year, analysts forecast that the business will report earnings of ($0.29) per share, with EPS estimates ranging from ($0.45) to ($0.15). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, December 5th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Okta had a negative net margin of 35.43% and a negative return on equity of 53.08%. The firm had revenue of $153.04 million for the quarter, compared to the consensus estimate of $143.88 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The company’s quarterly revenue was up 45.0% on a year-over-year basis.
A number of equities research analysts have recently issued reports on OKTA shares. Cowen started coverage on shares of Okta in a research report on Wednesday, August 21st. They issued an “outperform” rating and a $150.00 target price for the company. Guggenheim boosted their target price on shares of Okta from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Piper Jaffray Companies boosted their target price on shares of Okta from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Okta in a research report on Friday, December 6th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $135.00 target price (down previously from $155.00) on shares of Okta in a research report on Friday, December 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Okta has a consensus rating of “Hold” and a consensus price target of $133.72.
In related news, insider Jacques Frederic Kerrest sold 86,140 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $130.23, for a total transaction of $11,218,012.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Mckinnon sold 1,773 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $102.57, for a total transaction of $181,856.61. Following the sale, the chief executive officer now directly owns 3,531 shares of the company’s stock, valued at approximately $362,174.67. The disclosure for this sale can be found here. Insiders have sold 366,789 shares of company stock valued at $43,553,128 in the last ninety days. 14.69% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elkfork Partners LLC lifted its holdings in shares of Okta by 262.5% in the second quarter. Elkfork Partners LLC now owns 4,872 shares of the company’s stock worth $602,000 after acquiring an additional 3,528 shares during the last quarter. Korea Investment CORP acquired a new position in shares of Okta in the second quarter valued at approximately $14,525,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Okta in the second quarter valued at approximately $2,000,000. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Okta in the second quarter valued at approximately $338,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of Okta by 21.9% in the third quarter. Great West Life Assurance Co. Can now owns 92,481 shares of the company’s stock valued at $9,105,000 after buying an additional 16,596 shares during the period. 73.02% of the stock is owned by institutional investors and hedge funds.
Shares of Okta stock traded up $3.44 during trading on Friday, reaching $116.69. The company’s stock had a trading volume of 1,289,765 shares, compared to its average volume of 1,694,348. The business’s 50-day moving average price is $117.65 and its 200-day moving average price is $120.94. The firm has a market cap of $13.74 billion, a PE ratio of -113.29 and a beta of 1.07. Okta has a 52 week low of $52.05 and a 52 week high of $141.85. The company has a quick ratio of 1.12, a current ratio of 3.19 and a debt-to-equity ratio of 2.47.
Okta Company Profile
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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