Okta (NASDAQ:OKTA) updated its first quarter 2020 earnings guidance on Thursday. The company provided EPS guidance of $-0.22–0.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.12. The company issued revenue guidance of $116-117 million, compared to the consensus revenue estimate of $111.73 million.Okta also updated its FY 2020 guidance to $-0.53–0.48 EPS.
A number of equities analysts have commented on the company. Piper Jaffray Companies boosted their price objective on Okta to $89.00 and gave the stock an overweight rating in a research note on Friday. Zacks Investment Research upgraded Okta from a hold rating to a buy rating and set a $90.00 price objective for the company in a report on Thursday. Needham & Company LLC reiterated a buy rating and issued a $96.00 price objective (up previously from $75.00) on shares of Okta in a report on Friday. Canaccord Genuity restated a buy rating and issued a $85.00 price target (up from $75.00) on shares of Okta in a report on Friday. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt reiterated a buy rating and set a $90.00 price objective (up from $75.00) on shares of Okta in a report on Wednesday. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $79.82.
Okta stock opened at $78.43 on Friday. Okta has a 12 month low of $37.21 and a 12 month high of $87.72. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $9.30 billion, a P/E ratio of -57.25 and a beta of 1.25.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, December 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.24. The firm had revenue of $105.58 million for the quarter, compared to analysts’ expectations of $96.81 million. Okta had a negative net margin of 33.02% and a negative return on equity of 48.01%. On average, analysts predict that Okta will post -1.05 earnings per share for the current year.
In other news, insider Charles Race sold 30,000 shares of the stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $83.76, for a total transaction of $2,512,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin A. Horowitz sold 35,669 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $84.64, for a total transaction of $3,019,024.16. Following the sale, the director now owns 11,765 shares of the company’s stock, valued at $995,789.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,408,272 shares of company stock worth $95,470,066. 20.59% of the stock is owned by insiders.
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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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