$389.01 Million in Sales Expected for Okta, Inc. (NASDAQ:OKTA) This Quarter

Equities analysts predict that Okta, Inc. (NASDAQ:OKTAGet Rating) will announce $389.01 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Okta’s earnings. The lowest sales estimate is $388.10 million and the highest is $390.00 million. Okta posted sales of $251.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 55%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Okta will report full year sales of $1.78 billion for the current year, with estimates ranging from $1.77 billion to $1.79 billion. For the next financial year, analysts anticipate that the company will post sales of $2.39 billion, with estimates ranging from $2.32 billion to $2.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Okta.

Okta (NASDAQ:OKTAGet Rating) last announced its quarterly earnings results 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 net margin of 65.25% and a negative return on equity of 13.61%. During the same period last year, the company earned ($0.37) EPS.

Several equities analysts recently commented on OKTA shares. Wolfe Research decreased their price target on shares of Okta from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. JMP Securities upgraded shares of Okta from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a research note on Tuesday, February 22nd. Guggenheim cut their target price on shares of Okta from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Morgan Stanley cut their target price on shares of Okta from $270.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup lowered their price target on shares of Okta from $215.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, March 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $231.63.

Shares of OKTA opened at $143.57 on Friday. The company has a market cap of $22.50 billion, a price-to-earnings ratio of -25.37 and a beta of 1.04. Okta has a 1-year low of $135.46 and a 1-year high of $287.44. The company’s fifty day simple moving average is $163.60 and its 200 day simple moving average is $204.54. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.31.

In other news, CAO Christopher K. Kramer sold 1,035 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 transaction of $158,272.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 7,655 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $152.92, for a total value of $1,170,602.60. The disclosure for this sale can be found here. Insiders have sold a total of 19,437 shares of company stock worth $2,972,306 in the last ninety days. Corporate insiders own 9.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of OKTA. Thomasville National Bank lifted its stake in Okta by 17.0% in the first quarter. Thomasville National Bank now owns 29,055 shares of the company’s stock valued at $4,386,000 after buying an additional 4,227 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Okta by 19.6% during the first quarter. AdvisorNet Financial Inc now owns 5,221 shares of the company’s stock worth $788,000 after acquiring an additional 857 shares during the period. Gilman Hill Asset Management LLC grew its holdings in Okta by 19.8% during the first quarter. Gilman Hill Asset Management LLC now owns 1,350 shares of the company’s stock worth $204,000 after acquiring an additional 223 shares during the period. Bard Financial Services Inc. grew its holdings in Okta by 50.0% during the first quarter. Bard Financial Services Inc. now owns 1,500 shares of the company’s stock worth $226,000 after acquiring an additional 500 shares during the period. Finally, Redpoint Investment Management Pty Ltd acquired a new stake in Okta in the first quarter valued at $645,000. Hedge funds and other institutional investors own 73.03% of the company’s stock.

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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