Okta (OKTA) to Release Quarterly Earnings on Wednesday

Okta (NASDAQ:OKTAGet Rating) will be posting its quarterly earnings results after the market closes on Wednesday, November 30th. Analysts expect Okta to post earnings of ($0.24) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Okta (NASDAQ:OKTAGet Rating) last issued its earnings results on Wednesday, August 31st. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.22. Okta had a negative net margin of 57.21% and a negative return on equity of 13.18%. The firm had revenue of $435.38 million during the quarter, compared to the consensus estimate of $430.66 million. During the same quarter in the previous year, the firm posted ($1.35) earnings per share. The company’s revenue was up 43.6% compared to the same quarter last year. On average, analysts expect Okta to post $-5 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Okta Price Performance

Shares of OKTA opened at $47.97 on Wednesday. Okta has a 1-year low of $44.12 and a 1-year high of $244.18. The stock has a market cap of $7.62 billion, a PE ratio of -8.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a fifty day moving average price of $53.81 and a 200 day moving average price of $77.88.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research reports. Wolfe Research reduced their target price on shares of Okta from $100.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 11th. Piper Sandler lowered their target price on shares of Okta from $125.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday. Guggenheim upgraded shares of Okta from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, November 7th. They noted that the move was a valuation call. Wells Fargo & Company reduced their price objective on shares of Okta to $100.00 in a research note on Tuesday, September 6th. Finally, Mizuho cut their price target on shares of Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $88.03.

Insider Transactions at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 18,729 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $49.15, for a total value of $920,530.35. Following the completion of the sale, the director now directly owns 100 shares in the company, valued at $4,915. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Todd Mckinnon sold 3,921 shares of the business’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $59.39, for a total transaction of $232,868.19. Following the completion of the transaction, the chief executive officer now owns 15,012 shares in the company, valued at $891,562.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jacques Frederic Kerrest sold 18,729 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $49.15, for a total value of $920,530.35. Following the completion of the sale, the director now directly owns 100 shares of the company’s stock, valued at $4,915. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,797 shares of company stock valued at $3,359,843. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Okta

Several large investors have recently bought and sold shares of the company. MetLife Investment Management LLC acquired a new position in Okta during the first quarter valued at approximately $1,232,000. APG Asset Management N.V. raised its holdings in Okta by 37.3% during the 1st quarter. APG Asset Management N.V. now owns 7,000 shares of the company’s stock worth $950,000 after buying an additional 1,900 shares during the period. Raymond James Trust N.A. grew its stake in shares of Okta by 33.7% in the 1st quarter. Raymond James Trust N.A. now owns 2,307 shares of the company’s stock valued at $349,000 after buying an additional 581 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Okta by 3.7% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company’s stock worth $3,440,000 after purchasing an additional 808 shares during the period. Finally, Cibc World Market Inc. lifted its holdings in shares of Okta by 7.9% during the first quarter. Cibc World Market Inc. now owns 3,297 shares of the company’s stock worth $498,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 75.47% of the company’s stock.

Okta Company Profile

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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 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 for Okta (NASDAQ:OKTA)

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