Okta (NASDAQ:OKTA) Issues Q4 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.73-$0.74 for the period, compared to the consensus EPS estimate of $0.67. The company issued revenue guidance of $667-$669 million, compared to the consensus revenue estimate of $651.29 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Okta Stock Performance

NASDAQ:OKTA traded up $0.86 during trading hours on Tuesday, hitting $81.71. 7,831,139 shares of the stock were exchanged, compared to its average volume of 2,383,638. The company’s 50 day moving average is $75.03 and its two-hundred day moving average is $84.42. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Thursday, August 29th. Wells Fargo & Company lowered their price objective on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC began coverage on shares of Okta in a research report on Thursday, October 17th. They issued a “buy” rating and a $100.00 price objective for the company. Truist Financial lowered their price objective on shares of Okta from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $97.00 in a report on Monday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.62.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at $638,908.95. This trade represents a 95.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 over the last three months. Insiders own 7.00% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.