Brokerages predict that Okta Inc (NASDAQ:OKTA) will report $143.38 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Okta’s earnings, with estimates ranging from $142.10 million to $143.80 million. Okta posted sales of $105.58 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.8%. The business is expected to announce its next earnings results on Wednesday, December 4th.
On average, analysts expect that Okta will report full year sales of $561.46 million for the current year, with estimates ranging from $556.90 million to $563.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $729.15 million, with estimates ranging from $700.00 million to $749.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Okta.
Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $140.48 million during the quarter, compared to the consensus estimate of $131.19 million. Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share.
OKTA traded up $3.02 on Wednesday, reaching $118.21. The company had a trading volume of 2,802,959 shares, compared to its average volume of 2,292,889. Okta has a 1 year low of $41.88 and a 1 year high of $141.85. The stock has a market capitalization of $13.51 billion, a PE ratio of -114.77 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $115.21 and a 200-day moving average price of $115.04.
In other Okta news, General Counsel Jonathan T. Runyan sold 707 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $102.57, for a total transaction of $72,516.99. Following the transaction, the general counsel now directly owns 1,406 shares in the company, valued at $144,213.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Race sold 50,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $134.27, for a total transaction of $6,713,500.00. The disclosure for this sale can be found here. Insiders have sold 659,676 shares of company stock valued at $84,764,067 over the last three months. 14.69% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Polianta Ltd grew its position in shares of Okta by 13.7% in the third quarter. Polianta Ltd now owns 10,800 shares of the company’s stock valued at $1,063,000 after purchasing an additional 1,300 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Okta during the third quarter valued at approximately $454,000. State of Alaska Department of Revenue lifted its stake in shares of Okta by 43.6% during the third quarter. State of Alaska Department of Revenue now owns 21,527 shares of the company’s stock valued at $2,119,000 after buying an additional 6,541 shares during the period. River & Mercantile Asset Management LLP purchased a new position in shares of Okta during the second quarter valued at approximately $5,485,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Okta during the second quarter valued at approximately $2,424,000. Institutional investors and hedge funds own 69.12% of the company’s stock.
Okta Company Profile
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.
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