Okta Inc (NASDAQ:OKTA) Expected to Post Quarterly Sales of $190.56 Million

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Equities research analysts forecast that Okta Inc (NASDAQ:OKTA) will post sales of $190.56 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Okta’s earnings. The highest sales estimate is $215.00 million and the lowest is $186.26 million. Okta posted sales of $140.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.6%. The business is expected to announce its next quarterly earnings report on Wednesday, August 26th.

According to Zacks, analysts expect that Okta will report full-year sales of $791.61 million for the current financial year, with estimates ranging from $773.80 million to $890.00 million. For the next year, analysts forecast that the company will post sales of $1.01 billion, with estimates ranging from $930.00 million to $1.05 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Okta.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.10. The business had revenue of $182.86 million during the quarter, compared to the consensus estimate of $171.57 million. Okta had a negative net margin of 33.34% and a negative return on equity of 44.99%. The company’s quarterly revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share.

A number of equities analysts recently issued reports on OKTA shares. Oppenheimer increased their target price on shares of Okta from $130.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Royal Bank of Canada started coverage on Okta in a research report on Monday. They issued an “outperform” rating and a $230.00 price objective for the company. DA Davidson increased their price objective on Okta from $140.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. BidaskClub upgraded Okta from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, BTIG Research cut Okta from a “buy” rating to a “neutral” rating in a report on Monday, June 29th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $184.11.

In other news, CFO William E. Losch sold 30,000 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $133.21, for a total value of $3,996,300.00. Following the completion of the sale, the chief financial officer now owns 46,726 shares of the company’s stock, valued at approximately $6,224,370.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Benjamin A. Horowitz sold 37,878 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $155.72, for a total value of $5,898,362.16. Following the completion of the sale, the director now directly owns 15,735 shares of the company’s stock, valued at approximately $2,450,254.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 536,287 shares of company stock valued at $93,666,752. Corporate insiders own 12.02% of the company’s stock.

A number of large investors have recently made changes to their positions in OKTA. Clarius Group LLC grew its stake in shares of Okta by 2.7% in the 1st quarter. Clarius Group LLC now owns 2,680 shares of the company’s stock worth $328,000 after buying an additional 70 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Okta by 1.5% during the 4th quarter. ProShare Advisors LLC now owns 5,085 shares of the company’s stock valued at $587,000 after buying an additional 73 shares during the period. CSat Investment Advisory L.P. increased its stake in shares of Okta by 20.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 445 shares of the company’s stock worth $54,000 after purchasing an additional 76 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Okta by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 4,279 shares of the company’s stock worth $523,000 after purchasing an additional 100 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Okta by 62.0% in the 1st quarter. Lindbrook Capital LLC now owns 324 shares of the company’s stock worth $40,000 after buying an additional 124 shares in the last quarter. Institutional investors own 75.57% of the company’s stock.

OKTA traded down $0.50 during trading on Wednesday, hitting $207.26. The company had a trading volume of 2,295,993 shares, compared to its average volume of 1,975,687. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.86 and a quick ratio of 2.86. Okta has a 1-year low of $88.66 and a 1-year high of $213.19. The business has a 50-day moving average of $191.37 and a 200-day moving average of $145.94. The company has a market cap of $25.89 billion, a PE ratio of -115.44 and a beta of 1.07.

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 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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