Brokerages predict that Okta Inc (NASDAQ:OKTA) will post earnings of ($0.08) per share for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Okta’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.09). Okta posted earnings of ($0.10) per share in the same quarter last year, which suggests a positive year over year growth rate of 20%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, March 7th.
On average, analysts expect that Okta will report full year earnings of ($0.36) per share for the current fiscal year, with EPS estimates ranging from ($0.37) to ($0.32). For the next financial year, analysts expect that the firm will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.28) to $0.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, December 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.24. The company had revenue of $105.58 million during the quarter, compared to the consensus estimate of $96.81 million. Okta had a negative net margin of 33.02% and a negative return on equity of 48.01%.
A number of equities research analysts have issued reports on OKTA shares. Zacks Investment Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Guggenheim started coverage on shares of Okta in a research report on Monday, December 10th. They issued a “buy” rating and a $79.00 price objective for the company. BidaskClub downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Berenberg Bank started coverage on shares of Okta in a research report on Thursday, November 29th. They issued a “buy” rating and a $73.00 price objective for the company. Finally, DA Davidson started coverage on shares of Okta in a research report on Tuesday, December 18th. They issued a “neutral” rating and a $62.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.39.
In other news, Director Benjamin A. Horowitz sold 35,669 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $84.64, for a total transaction of $3,019,024.16. Following the completion of the transaction, the director now directly owns 11,765 shares of the company’s stock, valued at approximately $995,789.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin A. Horowitz sold 620,195 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $65.20, for a total transaction of $40,436,714.00. Following the transaction, the director now directly owns 11,765 shares of the company’s stock, valued at $767,078. The disclosure for this sale can be found here. Insiders have sold a total of 1,408,272 shares of company stock valued at $95,470,066 over the last three months. Insiders own 20.59% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ffcm LLC bought a new position in shares of Okta during the 4th quarter valued at approximately $36,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Okta during the 4th quarter valued at approximately $55,000. Winslow Evans & Crocker Inc. bought a new position in shares of Okta during the 4th quarter valued at approximately $56,000. Penserra Capital Management LLC bought a new position in shares of Okta during the 4th quarter valued at approximately $81,000. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Okta during the 4th quarter valued at approximately $99,000. 62.54% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:OKTA traded down $1.09 during midday trading on Wednesday, hitting $83.99. 1,379,554 shares of the company’s stock were exchanged, compared to its average volume of 1,753,529. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.69 and a quick ratio of 2.69. The company has a market cap of $9.40 billion, a PE ratio of -61.31 and a beta of 1.25. Okta has a 12 month low of $35.03 and a 12 month high of $87.72.
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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
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