Wall Street analysts expect that Okta Inc (NASDAQ:OKTA) will report earnings of ($0.21) per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Okta’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.22). Okta reported earnings per share of ($0.09) in the same quarter last year, which suggests a negative year-over-year growth rate of 133.3%. The company is expected to report its next earnings report after the market closes on Thursday, May 30th.
According to Zacks, analysts expect that Okta will report full-year earnings of ($0.49) per share for the current year, with EPS estimates ranging from ($0.52) to ($0.42). For the next financial year, analysts expect that the company will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.36) to ($0.04). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Okta.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. The business had revenue of $115.47 million during the quarter, compared to the consensus estimate of $107.94 million.
Several research firms have weighed in on OKTA. Mizuho began coverage on Okta in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $85.00 price target for the company. Monness Crespi & Hardt upped their price target on Okta from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Goldman Sachs Group upgraded Okta from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $94.00 in a research report on Monday, March 18th. Robert W. Baird reiterated a “hold” rating on shares of Okta in a research report on Friday, March 8th. Finally, Morgan Stanley initiated coverage on Okta in a research report on Monday, February 4th. They set an “equal weight” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $82.11.
In other Okta news, CFO William E. Losch sold 4,431 shares of Okta stock in a transaction on Monday, March 18th. The shares were sold at an average price of $82.31, for a total transaction of $364,715.61. Following the completion of the transaction, the chief financial officer now directly owns 11,465 shares of the company’s stock, valued at $943,684.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 5,223 shares of Okta stock in a transaction on Monday, March 18th. The stock was sold at an average price of $82.31, for a total transaction of $429,905.13. Following the transaction, the chief executive officer now directly owns 14,125 shares of the company’s stock, valued at $1,162,628.75. The disclosure for this sale can be found here. Insiders have sold a total of 630,462 shares of company stock worth $54,573,997 in the last 90 days. 14.69% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in shares of Okta during the first quarter worth $29,000. Ffcm LLC bought a new stake in shares of Okta during the fourth quarter worth $36,000. Optimum Investment Advisors bought a new stake in shares of Okta during the first quarter worth $50,000. Tortoise Index Solutions LLC bought a new stake in shares of Okta during the first quarter worth $55,000. Finally, Neuburgh Advisers LLC bought a new stake in shares of Okta during the first quarter worth $64,000. 64.83% of the stock is owned by institutional investors.
OKTA stock traded up $1.22 during midday trading on Thursday, hitting $110.93. The company’s stock had a trading volume of 4,172,640 shares, compared to its average volume of 1,820,250. Okta has a 12 month low of $41.88 and a 12 month high of $111.65. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of -107.70 and a beta of 1.32.
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.
Featured Story: Average Daily Trade Volume – What It Means In Stock Trading
Get a free copy of the Zacks research report on Okta (OKTA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.