– $ 0.24 in earnings per share expected for Okta, Inc. (NASDAQ: OKTA) this quarter
Brokerages expect Okta, Inc. (NASDAQ: OKTA) to post ($ 0.24) earnings per share for the current fiscal quarter, reports Zacks Investment Research. Ten analysts released estimates for Okta’s earnings, with the highest EPS estimate at ($ 0.24) and the lowest estimate at ($ 0.25). Okta reported earnings of $ 0.06 per share in the same quarter last year, indicating a negative growth rate of 500% year-over-year. The company is expected to release its next quarterly earnings report on Wednesday, March 2.
On average, analysts expect Okta to report annual earnings of ($ 0.52) per share for the current fiscal year, with EPS estimates ranging from $ 0.53 to $ 0.50. For next year, analysts predict the company will post earnings of ($ 0.44) per share, with EPS estimates ranging from $ 0.80 to $ 0.04. Zacks earnings per share averages are an average based on a survey of seller-side research companies that cover Okta.
Okta (NASDAQ: OKTA) last reported its quarterly results on Wednesday, December 1. The company reported ($ 0.07) EPS for the quarter, beating the consensus estimate of ($ 0.24) by $ 0.17. The company posted revenue of $ 350.68 million for the quarter, compared to analysts’ estimates of $ 327.33 million. Okta recorded a negative return on equity of 14.80% and a negative net margin of 59.29%. During the same period of the previous year, the company made EPS ($ 0.38).
Several research companies have recently published reports on OKTA. Zacks Investment Research downgraded Okta from a âsellâ rating to a âbuyâ rating and set a price target of $ 244.00 on the stock in a research report released on Wednesday, December 8. TheStreet downgraded Okta from a âd +â rating to a âc-â rating in a research report released on Tuesday, September 7. DA Davidson reduced his price target on Okta from $ 315.00 to $ 260.00 and set a âbuyâ rating on the stock in a research report released on Thursday, December 2. Morgan Stanley reduced its price target on Okta from $ 315.00 to $ 300.00 and set an “overweight” rating on the stock in a research report released on Thursday, December 2. Finally, Mizuho lowered his price target on Okta from $ 305.00 to $ 250.00 and set a “neutral” rating on the stock in a research report on Thursday, December 2. Five investment analysts gave the stock a conservation rating, nineteen issued a buy rating and one assigned a high buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of âBuyâ and an average price target of $ 283.25.
Separately, CEO Todd Mckinnon sold 18,363 Okta shares in a trade on Monday, December 20. The stock was sold for an average price of $ 220.19, for a total value of $ 4,043,348.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. Additionally, CAO Christopher K. Kramer sold 991 Okta shares in a trade on Thursday, December 16. The stock was sold for an average price of $ 214.89, for a total value of $ 212,955.99. Disclosure of this sale can be found here. Insiders have sold 78,549 shares of the company valued at $ 18,964,162 in the past 90 days. Company insiders own 9.60% of the company’s shares.
A number of large investors have recently increased or reduced their holdings in OKTA. Russell Investments Group Ltd. increased its holdings in Okta by 10.6% in the second quarter. Russell Investments Group Ltd. now owns 24,157 shares of the company valued at $ 5,922,000 after purchasing an additional 2,309 shares during the period. DekaBank Deutsche Girozentrale increased its position in Okta shares by 4.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 16,200 shares of the company valued at $ 4,000,000 after acquiring an additional 705 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Okta shares by 49.1% in the second quarter. Los Angeles Capital Management LLC now owns 1,748 shares of the company valued at $ 428,000 after acquiring an additional 576 shares in the last quarter. Fifth Third Bancorp increased its position in Okta shares by 54.3% in the second quarter. Fifth Third Bancorp now owns 355 shares of the company valued at $ 87,000 after acquiring 125 additional shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Okta shares by 3.0% in the second quarter. PNC Financial Services Group Inc. now owns 9,217 shares of the company valued at $ 2,256,000 after acquiring 272 additional shares during the last quarter. 71.63% of the shares are held by institutional investors and hedge funds.
Okta shares opened at $ 224.17 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt ratio of 0.30. The company has a market cap of $ 34.87 billion, a PE ratio of -47.90 and a beta of 1.02. The company’s 50-day average mobile price is $ 235.92, and its 200-day average mobile price is $ 242.78. Okta has a 12-month low of $ 196.78 and a 12-month high of $ 294.00.
Okta, Inc is committed to providing an identity management platform for the business. It operates across geographic segments of the United States and internationally. The company’s products include single sign-on, multi-factor authentication, API access management, authentication, user management and lifecycle management.
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