Analysts Anticipate Okta, Inc. (NASDAQ:OKTA) Will Post Earnings of -$0.34 Per Share

Analysts expect Okta, Inc. (NASDAQ:OKTAGet Rating) to post earnings of ($0.34) per share for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Okta’s earnings, with the highest EPS estimate coming in at ($0.34) and the lowest estimate coming in at ($0.35). Okta posted earnings of ($0.10) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 240%. The business is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Okta will report full year earnings of ($1.26) per share for the current fiscal year, with EPS estimates ranging from ($1.31) to ($1.23). For the next financial year, analysts forecast that the company will report earnings of ($0.67) per share, with EPS estimates ranging from ($1.11) to ($0.23). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Okta.

Okta (NASDAQ:OKTAGet Rating) last announced its earnings results on Wednesday, March 2nd. The company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.07. The business had revenue of $383.02 million during the quarter, compared to analyst estimates of $359.46 million. Okta had a negative net margin of 65.25% and a negative return on equity of 13.61%. During the same period in the previous year, the business earned ($0.37) EPS.

Several research analysts recently weighed in on OKTA shares. Truist Financial downgraded shares of Okta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $270.00 to $170.00 in a report on Tuesday, March 22nd. TheStreet downgraded shares of Okta from a “c-” rating to a “d+” rating in a report on Thursday, January 27th. Needham & Company LLC dropped their price objective on shares of Okta from $320.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. KeyCorp dropped their price objective on shares of Okta from $225.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Finally, Stifel Nicolaus lowered their price target on shares of Okta from $200.00 to $195.00 and set a “hold” rating for the company in a report on Monday, March 21st. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Okta presently has a consensus rating of “Buy” and a consensus price target of $218.04.

In other news, insider Ledger Susan St. sold 5,879 shares of Okta stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total transaction of $899,016.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 7,655 shares of Okta stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total transaction of $1,170,602.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,537 shares of company stock worth $2,984,147. Insiders own 7.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Penserra Capital Management LLC lifted its stake in shares of Okta by 10.0% during the third quarter. Penserra Capital Management LLC now owns 439 shares of the company’s stock worth $104,000 after buying an additional 40 shares during the period. Aristotle Atlantic Partners LLC raised its holdings in shares of Okta by 4.0% during the third quarter. Aristotle Atlantic Partners LLC now owns 1,413 shares of the company’s stock worth $335,000 after purchasing an additional 54 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Okta by 0.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,388 shares of the company’s stock worth $1,880,000 after purchasing an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Okta by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 3,324 shares of the company’s stock worth $789,000 after purchasing an additional 60 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of Okta by 5.7% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,120 shares of the company’s stock worth $251,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.

Okta stock traded up $3.71 during mid-day trading on Wednesday, hitting $82.57. The stock had a trading volume of 2,194,989 shares, compared to its average volume of 2,649,803. The firm has a market capitalization of $12.94 billion, a P/E ratio of -14.59 and a beta of 1.15. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $129.71 and its 200 day moving average is $178.49. Okta has a one year low of $77.01 and a one year high of $276.30.

About Okta (Get Rating)

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 and services, 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 applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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