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

Equities analysts expect Okta, Inc. (NASDAQ:OKTAGet Rating) to announce earnings of ($0.34) per share for the current quarter, Zacks reports. Ten analysts have provided estimates for Okta’s earnings. The highest EPS estimate is ($0.31) and the lowest is ($0.35). Okta posted earnings of ($0.10) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 240%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Okta will report full-year earnings of ($1.24) per share for the current fiscal year, with EPS estimates ranging from ($1.27) to ($1.11). For the next fiscal year, analysts forecast that the business will report earnings of ($0.67) per share, with EPS estimates ranging from ($1.11) to ($0.23). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Okta.

Okta (NASDAQ:OKTAGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.06. Okta had a negative return on equity of 13.61% and a negative net margin of 65.25%. During the same quarter in the previous year, the business posted ($0.37) EPS.

Several research firms have recently weighed in on OKTA. Oppenheimer decreased their price target on Okta from $295.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Citigroup decreased their target price on Okta from $215.00 to $205.00 and set a “neutral” rating on the stock in a research note on Thursday, March 3rd. Wolfe Research dropped their price target on Okta from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Raymond James cut shares of Okta from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 23rd. Finally, BTIG Research dropped their target price on shares of Okta from $273.00 to $216.00 in a research report on Sunday, April 3rd. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Buy” and an average price target of $231.63.

In related news, CFO Brett Tighe sold 2,858 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 value of $437,045.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ledger Susan St. sold 5,879 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $152.92, for a total value of $899,016.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,437 shares of company stock valued at $2,972,306. Insiders own 9.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in Okta in the fourth quarter valued at approximately $30,000. Glassman Wealth Services increased its holdings in shares of Okta by 129.2% in the third quarter. Glassman Wealth Services now owns 149 shares of the company’s stock valued at $35,000 after buying an additional 84 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of Okta in the fourth quarter valued at $42,000. Aquire Wealth Advisors LLC acquired a new stake in Okta during the 4th quarter valued at $45,000. Finally, Liberty Wealth Management LLC raised its stake in Okta by 129.3% during the 3rd quarter. Liberty Wealth Management LLC now owns 211 shares of the company’s stock valued at $52,000 after purchasing an additional 119 shares during the period. 73.03% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ OKTA opened at $150.25 on Thursday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $165.40 and its 200 day moving average is $205.86. Okta has a twelve month low of $135.46 and a twelve month high of $287.44. The firm has a market capitalization of $23.54 billion, a PE ratio of -26.55 and a beta of 1.04.

Okta Company Profile (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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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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