Zacks: Brokerages Anticipate Okta Inc (OKTA) Will Post Earnings of -$0.21 Per Share

Analysts forecast that Okta Inc (NASDAQ:OKTA) will announce earnings per share of ($0.21) for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Okta’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.22). Okta posted earnings of ($0.09) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 133.3%. The firm is expected to report its next quarterly earnings report on Wednesday, June 5th.

On average, analysts expect that Okta will report full year earnings of ($0.44) per share for the current fiscal year, with EPS estimates ranging from ($0.52) to $0.08. For the next fiscal year, analysts anticipate that the company will post earnings of ($0.16) per share, with EPS estimates ranging from ($0.36) to $0.03. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Okta.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to analyst estimates of $107.94 million. Okta had a negative net margin of 33.02% and a negative return on equity of 48.01%.

OKTA has been the subject of several research reports. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Thursday, March 7th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $90.00 target price (up from $75.00) on shares of Okta in a research report on Wednesday, March 6th. Berenberg Bank initiated coverage on Okta in a research report on Thursday, November 29th. They issued a “buy” rating and a $73.00 target price for the company. BidaskClub raised Okta from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Finally, Guggenheim initiated coverage on Okta in a research report on Monday, December 10th. They issued a “buy” rating and a $79.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $79.82.

OKTA traded down $0.16 on Friday, hitting $80.47. The company had a trading volume of 1,841,083 shares, compared to its average volume of 2,017,855. The firm has a market cap of $8.90 billion, a P/E ratio of -58.74 and a beta of 1.25. Okta has a 1 year low of $37.21 and a 1 year high of $87.72. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 1.09.

In other news, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $62.07, for a total transaction of $1,241,400.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $1,241,400. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles Race sold 30,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.21, for a total value of $2,406,300.00. Following the transaction, the insider now directly owns 32,536 shares of the company’s stock, valued at $2,609,712.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 418,077 shares of company stock valued at $31,659,652. Corporate insiders own 20.59% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Okta by 27.5% during the fourth quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after purchasing an additional 1,996,090 shares during the last quarter. Vanguard Group Inc. lifted its stake in Okta by 1.8% during the third quarter. Vanguard Group Inc. now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the last quarter. Vanguard Group Inc lifted its stake in Okta by 1.8% during the third quarter. Vanguard Group Inc now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the last quarter. BlackRock Inc. lifted its stake in Okta by 16.4% during the fourth quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock worth $280,891,000 after purchasing an additional 618,835 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Okta by 49.3% during the third quarter. Morgan Stanley now owns 2,256,056 shares of the company’s stock worth $158,736,000 after purchasing an additional 744,738 shares during the last quarter. 62.54% of the stock is owned by institutional investors and hedge funds.

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 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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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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