Zacks: Brokerages Expect Okta, Inc. (NASDAQ:OKTA) to Announce -$0.01 Earnings Per Share

Equities research analysts predict that Okta, Inc. (NASDAQ:OKTA) will report ($0.01) earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Okta’s earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.02). Okta also posted earnings of ($0.01) per share during the same quarter last year. The company is expected to announce its next earnings report on Thursday, March 4th.

On average, analysts expect that Okta will report full-year earnings of $0.04 per share for the current year, with EPS estimates ranging from $0.03 to $0.05. For the next financial year, analysts forecast that the company will report earnings of ($0.17) per share, with EPS estimates ranging from ($0.54) to $0.11. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The business had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $203.15 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue was up 42.1% on a year-over-year basis.

OKTA has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of Okta from $250.00 to $295.00 in a report on Thursday, December 3rd. JPMorgan Chase & Co. lowered shares of Okta from an “overweight” rating to a “neutral” rating and set a $258.00 price target for the company. in a report on Wednesday, December 9th. Pritchard Capital boosted their price target on shares of Okta from $266.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, December 3rd. They noted that the move was a valuation call. Mizuho boosted their price target on shares of Okta from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, December 3rd. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Okta from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $242.55.

OKTA stock opened at $254.26 on Thursday. Okta has a 12 month low of $88.66 and a 12 month high of $287.35. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 2.51. The company has a 50-day moving average price of $247.49 and a 200 day moving average price of $221.08. The stock has a market cap of $32.92 billion, a PE ratio of -131.74 and a beta of 1.00.

In other Okta news, CAO Christopher K. Kramer sold 939 shares of Okta stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $237.70, for a total transaction of $223,200.30. Following the completion of the transaction, the chief accounting officer now owns 5,601 shares in the company, valued at approximately $1,331,357.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher K. Kramer sold 1,378 shares of Okta stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $258.91, for a total value of $356,777.98. Following the transaction, the chief accounting officer now owns 6,369 shares of the company’s stock, valued at approximately $1,648,997.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,649 shares of company stock worth $84,180,626. 12.02% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. boosted its holdings in Okta by 3.3% in the 3rd quarter. Wetherby Asset Management Inc. now owns 1,361 shares of the company’s stock worth $291,000 after buying an additional 44 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of Okta by 29.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 258 shares of the company’s stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Corbett Road Capital Management LLC boosted its holdings in shares of Okta by 3.6% during the 3rd quarter. Corbett Road Capital Management LLC now owns 2,194 shares of the company’s stock worth $469,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Okta by 4.5% during the 3rd quarter. Perigon Wealth Management LLC now owns 1,900 shares of the company’s stock worth $406,000 after purchasing an additional 82 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in shares of Okta by 1.8% during the 3rd quarter. Independent Advisor Alliance now owns 4,785 shares of the company’s stock worth $1,023,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

About Okta

Okta, Inc provides identity management platforms 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; and 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.

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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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