Brokerages forecast that Okta Inc (NASDAQ:OKTA) will post earnings per share (EPS) of ($0.10) for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Okta’s earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at ($0.08). Okta posted earnings of ($0.15) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The firm is expected to report its next earnings results on Thursday, September 5th.
On average, analysts expect that Okta will report full year earnings of ($0.46) per share for the current fiscal year, with EPS estimates ranging from ($0.50) to ($0.37). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.19) per share, with EPS estimates ranging from ($0.35) to ($0.11). Zacks Investment Research’s EPS calculations are a mean 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, May 30th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The company had revenue of $125.20 million for the quarter, compared to analyst estimates of $116.83 million. During the same period in the previous year, the business earned ($0.09) EPS. Okta’s revenue for the quarter was up 49.8% compared to the same quarter last year.
A number of research analysts recently commented on the stock. BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Oppenheimer upped their price target on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Piper Jaffray Companies set a $360.00 price target on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Friday, May 31st. SunTrust Banks upped their price target on shares of Okta to $110.00 and gave the company a “hold” rating in a research note on Friday, May 31st. Finally, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Okta presently has an average rating of “Buy” and a consensus price target of $101.22.
In other news, Director Benjamin A. Horowitz sold 48,897 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $106.15, for a total transaction of $5,190,416.55. Following the completion of the sale, the director now owns 11,765 shares of the company’s stock, valued at approximately $1,248,854.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Race sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $134.27, for a total transaction of $6,713,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,388 shares of company stock valued at $40,980,414. 14.69% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. FMR LLC increased its position in Okta by 27.5% during the 4th 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 in the last quarter. First Trust Advisors LP increased its position in Okta by 4.2% in the 1st quarter. First Trust Advisors LP now owns 2,670,948 shares of the company’s stock valued at $220,968,000 after acquiring an additional 107,132 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in Okta by 28.0% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,091,177 shares of the company’s stock valued at $173,003,000 after acquiring an additional 457,058 shares during the period. Norges Bank acquired a new position in Okta in the 4th quarter valued at approximately $53,106,000. Finally, Geode Capital Management LLC increased its position in Okta by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 828,545 shares of the company’s stock valued at $52,860,000 after acquiring an additional 87,926 shares during the period. 77.92% of the stock is owned by institutional investors.
OKTA traded down $1.46 on Tuesday, reaching $135.66. The company had a trading volume of 37,373 shares, compared to its average volume of 1,752,539. Okta has a fifty-two week low of $41.88 and a fifty-two week high of $140.18. The firm has a market cap of $15.54 billion, a PE ratio of -131.69 and a beta of 1.02. The firm’s fifty day simple moving average is $128.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12.
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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