Brokerages Expect Okta Inc (NASDAQ:OKTA) to Post -$0.21 EPS

Equities research analysts expect Okta Inc (NASDAQ:OKTA) to report earnings of ($0.21) per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Okta’s earnings, with the highest EPS estimate coming in at ($0.16) and the lowest estimate coming in at ($0.24). Okta posted earnings of ($0.19) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.5%. The firm is expected to issue its next quarterly earnings results on Thursday, June 4th.

According to Zacks, analysts expect that Okta will report full year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.31). For the next year, analysts forecast that the company will post earnings of $0.00 per share, with EPS estimates ranging from ($0.38) to $0.20. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, March 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $167.33 million for the quarter, compared to the consensus estimate of $155.83 million. Okta had a negative return on equity of 50.48% and a negative net margin of 35.65%. Okta’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS.

Several brokerages recently issued reports on OKTA. Oppenheimer raised their price target on Okta from to in a report on Thursday. Goldman Sachs Group raised their price target on Okta from $144.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, March 6th. DA Davidson raised their target price on Okta from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler raised their target price on Okta from to in a research report on Friday, March 6th. Finally, Zacks Investment Research cut Okta from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $143.89.

Shares of NASDAQ OKTA traded up $9.18 during mid-day trading on Monday, hitting $128.12. The company had a trading volume of 2,221,257 shares, compared to its average volume of 1,878,289. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of -71.98 and a beta of 0.88. Okta has a 12 month low of $84.40 and a 12 month high of $142.98. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.92 and a quick ratio of 2.92. The firm’s 50 day simple moving average is $123.22 and its two-hundred day simple moving average is $119.07.

In other news, Director Benjamin A. Horowitz sold 37,878 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $111.48, for a total value of $4,222,639.44. Following the completion of the sale, the director now owns 15,735 shares of the company’s stock, valued at $1,754,137.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William E. Losch sold 30,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $131.78, for a total value of $3,953,400.00. Following the completion of the sale, the chief financial officer now directly owns 42,562 shares of the company’s stock, valued at approximately $5,608,820.36. The disclosure for this sale can be found here. Insiders sold a total of 160,849 shares of company stock worth $19,166,015 over the last 90 days. Insiders own 14.69% of the company’s stock.

Several institutional investors have recently modified their holdings of OKTA. State Street Corp boosted its position in shares of Okta by 6.6% in the third quarter. State Street Corp now owns 2,194,216 shares of the company’s stock worth $216,043,000 after buying an additional 136,687 shares during the period. Carnegie Capital Asset Management LLC boosted its position in shares of Okta by 40.1% in the third quarter. Carnegie Capital Asset Management LLC now owns 32,285 shares of the company’s stock worth $3,179,000 after buying an additional 9,235 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Okta by 2.2% in the third quarter. Pictet Asset Management Ltd. now owns 36,700 shares of the company’s stock worth $3,613,000 after buying an additional 800 shares during the period. California State Teachers Retirement System boosted its position in shares of Okta by 1.2% in the third quarter. California State Teachers Retirement System now owns 169,893 shares of the company’s stock worth $16,728,000 after buying an additional 1,960 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Okta by 13.3% during the third quarter. Parametric Portfolio Associates LLC now owns 178,455 shares of the company’s stock valued at $17,571,000 after purchasing an additional 20,892 shares during the last quarter. 73.90% of the stock is owned by institutional investors and hedge funds.

About Okta

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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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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