Equities research analysts expect Okta (NASDAQ:OKTA) to post earnings per share of ($0.16) for the current quarter, according to Zacks. Six analysts have made estimates for Okta’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.15). Okta reported earnings per share of ($0.50) in the same quarter last year, which indicates a positive year over year growth rate of 68%. The company is expected to issue its next quarterly earnings results on Wednesday, June 6th.
On average, analysts expect that Okta will report full year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.66) to ($0.62). For the next financial year, analysts anticipate that the business will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.45) to ($0.28). Zacks’ EPS averages are an average based on a survey of research analysts that cover Okta.
Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. Okta had a negative return on equity of 65.56% and a negative net margin of 43.99%. The company had revenue of $77.80 million during the quarter, compared to the consensus estimate of $76.77 million. The firm’s revenue for the quarter was up 59.4% compared to the same quarter last year.
A number of research analysts recently issued reports on OKTA shares. Needham & Company LLC started coverage on Okta in a report on Wednesday, February 14th. They set a “buy” rating and a $38.00 price objective for the company. BidaskClub downgraded Okta from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Canaccord Genuity increased their price objective on Okta from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, March 8th. Citigroup reiterated a “buy” rating and set a $46.00 price objective on shares of Okta in a report on Thursday, March 8th. Finally, KeyCorp reiterated a “positive” rating and set a $43.00 price objective (up from $35.00) on shares of Okta in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.09.
In related news, General Counsel Jonathan T. Runyan sold 9,375 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $30.02, for a total transaction of $281,437.50. Following the completion of the transaction, the general counsel now directly owns 9,375 shares of the company’s stock, valued at $281,437.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William E. Losch sold 16,400 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $30.04, for a total value of $492,656.00. Following the transaction, the chief financial officer now directly owns 16,400 shares of the company’s stock, valued at $492,656. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,575 shares of company stock valued at $8,307,050.
A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. SG Americas Securities LLC acquired a new position in Okta during the third quarter valued at approximately $128,000. Hershey Trust Co. acquired a new position in Okta during the fourth quarter valued at approximately $195,000. Landscape Capital Management L.L.C. acquired a new position in Okta during the fourth quarter valued at approximately $239,000. Jane Street Group LLC acquired a new position in Okta during the third quarter valued at approximately $247,000. Finally, Bank of Montreal Can acquired a new position in Okta during the fourth quarter valued at approximately $323,000. 38.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Okta stock opened at $40.79 on Thursday. Okta has a 1 year low of $21.52 and a 1 year high of $42.88. The stock has a market capitalization of $4,247.99 and a price-to-earnings ratio of -29.64.
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.
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