Okta (OKTA) Issues Q1 2020 Earnings Guidance

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.

WARNING: “Okta (OKTA) Issues Q1 2020 Earnings Guidance” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2019/03/09/okta-okta-issues-q1-2020-earnings-guidance.html.

About Okta

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.

Featured Story: What is Cost of Goods Sold (COGS)?

Earnings History and Estimates for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.