Wall Street analysts expect Okta Inc (NASDAQ:OKTA) to report ($0.21) earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have issued estimates for Okta’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.22). Okta reported earnings of ($0.09) per share in the same quarter last year, which indicates a negative year over year growth rate of 133.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, May 30th.
On average, analysts expect that Okta will report full-year earnings of ($0.49) per share for the current financial year, with EPS estimates ranging from ($0.52) to ($0.42). For the next financial year, analysts expect that the business will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.36) to ($0.04). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The business had revenue of $115.47 million during the quarter, compared to the consensus estimate of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%.
A number of equities analysts have recently issued reports on OKTA shares. Morgan Stanley started coverage on Okta in a research note on Monday, February 4th. They set an “equal weight” rating and a $85.00 target price for the company. Zacks Investment Research downgraded Okta from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. SunTrust Banks downgraded Okta from a “buy” rating to a “hold” rating and increased their target price for the stock from $74.00 to $90.00 in a research note on Monday, March 4th. They noted that the move was a valuation call. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $90.00 price objective (up from $75.00) on shares of Okta in a research note on Wednesday, March 6th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Okta in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.11.
In other Okta news, insider Charles Race sold 30,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $80.21, for a total transaction of $2,406,300.00. Following the sale, the insider now owns 32,536 shares in the company, valued at approximately $2,609,712.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 5,223 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $82.31, for a total value of $429,905.13. Following the sale, the chief executive officer now owns 14,125 shares in the company, valued at approximately $1,162,628.75. The disclosure for this sale can be found here. Insiders sold a total of 630,462 shares of company stock valued at $54,573,997 over the last ninety days. 14.69% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in OKTA. FMR LLC boosted its holdings in shares of Okta by 27.5% during the fourth quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after purchasing an additional 1,996,090 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Okta by 1.8% during the third quarter. Vanguard Group Inc now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Okta by 124.5% during the first quarter. Morgan Stanley now owns 5,058,288 shares of the company’s stock worth $418,473,000 after purchasing an additional 2,804,898 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Okta by 16.4% during the fourth quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock worth $280,891,000 after purchasing an additional 618,835 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Okta by 4.2% during the first quarter. First Trust Advisors LP now owns 2,670,948 shares of the company’s stock worth $220,968,000 after purchasing an additional 107,132 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.
Shares of OKTA stock traded up $0.78 during trading hours on Thursday, reaching $109.65. 1,279,000 shares of the company’s stock were exchanged, compared to its average volume of 2,038,545. The company has a market cap of $12.45 billion, a price-to-earnings ratio of -106.46 and a beta of 1.32. Okta has a 1 year low of $41.88 and a 1 year high of $111.65.
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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