Okta (NASDAQ:OKTA) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.250-$-0.240 for the period, compared to the Thomson Reuters consensus estimate of $-0.340. The company issued revenue guidance of $325 million-$327 million, compared to the consensus revenue estimate of $322.93 million.Okta also updated its FY 2022 guidance to $-0.770-$-0.740 EPS.
Shares of NASDAQ:OKTA traded down $0.56 during trading on Wednesday, hitting $252.73. 11,360 shares of the company’s stock were exchanged, compared to its average volume of 1,722,815. Okta has a 1-year low of $185.05 and a 1-year high of $294.00. The firm has a 50-day moving average price of $248.89 and a two-hundred day moving average price of $241.38. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.29. The firm has a market cap of $39.09 billion, a P/E ratio of -66.12 and a beta of 0.97.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, August 31st. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.24. Okta had a negative net margin of 52.47% and a negative return on equity of 18.64%. The business had revenue of $316.00 million for the quarter, compared to analyst estimates of $293.16 million. During the same quarter last year, the firm earned $0.07 EPS. Okta’s quarterly revenue was up 57.7% compared to the same quarter last year. As a group, research analysts predict that Okta will post -4.8 EPS for the current year.
In related news, Director Robert L. Dixon, Jr. sold 800 shares of the company’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $263.45, for a total transaction of $210,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Mckinnon sold 18,474 shares of the company’s stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $235.56, for a total transaction of $4,351,735.44. Following the sale, the chief executive officer now directly owns 13,587 shares of the company’s stock, valued at approximately $3,200,553.72. The disclosure for this sale can be found here. In the last three months, insiders sold 200,373 shares of company stock valued at $50,356,464. 9.60% of the stock is currently owned by company insiders.
Okta Company Profile
Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.
Featured Article: What can cause a stock to outperform?
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.