Equities analysts forecast that Okta, Inc. (NASDAQ:OKTA) will post sales of $221.57 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Okta’s earnings, with the highest sales estimate coming in at $222.00 million and the lowest estimate coming in at $221.00 million. Okta reported sales of $167.33 million during the same quarter last year, which indicates a positive year over year growth rate of 32.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, March 3rd.
According to Zacks, analysts expect that Okta will report full-year sales of $822.22 million for the current year, with estimates ranging from $821.68 million to $822.70 million. For the next year, analysts forecast that the company will post sales of $1.07 billion, with estimates ranging from $1.06 billion to $1.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Okta.
Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The business had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $203.15 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The firm’s revenue was up 42.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share.
A number of research firms recently commented on OKTA. KeyCorp increased their target price on Okta from $282.00 to $313.00 in a research note on Monday, December 21st. Canaccord Genuity upped their price target on shares of Okta from $250.00 to $300.00 and gave the company a “hold” rating in a research report on Tuesday, February 16th. Morgan Stanley upped their price target on shares of Okta from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Friday, January 8th. Royal Bank of Canada restated a “buy” rating and set a $255.00 price target on shares of Okta in a research report on Sunday, November 29th. Finally, Mizuho upped their price target on shares of Okta from $270.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, February 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $251.14.
In other Okta news, insider Charles Race sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $238.21, for a total value of $11,910,500.00. Following the completion of the sale, the insider now directly owns 79,786 shares in the company, valued at $19,005,823.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher K. Kramer sold 940 shares of the firm’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $260.99, for a total transaction of $245,330.60. Following the completion of the sale, the chief accounting officer now owns 6,089 shares of the company’s stock, valued at $1,589,168.11. The disclosure for this sale can be found here. Insiders sold 246,650 shares of company stock valued at $61,793,057 over the last 90 days. 12.02% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Okta by 4.5% during the fourth quarter. Principal Financial Group Inc. now owns 15,830 shares of the company’s stock valued at $4,025,000 after purchasing an additional 677 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Okta by 41.2% during the fourth quarter. CWA Asset Management Group LLC now owns 8,581 shares of the company’s stock valued at $2,182,000 after purchasing an additional 2,503 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. increased its stake in shares of Okta by 42.9% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 50,000 shares of the company’s stock valued at $12,713,000 after purchasing an additional 15,000 shares in the last quarter. AtonRa Partners bought a new position in shares of Okta during the fourth quarter valued at approximately $2,192,000. Finally, Rehmann Capital Advisory Group bought a new position in shares of Okta during the fourth quarter valued at approximately $553,000. 75.77% of the stock is owned by institutional investors and hedge funds.
OKTA traded down $3.89 during trading on Tuesday, reaching $270.58. The stock had a trading volume of 1,386,877 shares, compared to its average volume of 1,160,551. The stock has a market cap of $35.03 billion, a PE ratio of -138.21 and a beta of 0.99. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. Okta has a one year low of $88.66 and a one year high of $294.00. The business has a 50-day moving average of $267.94 and a 200-day moving average of $236.86.
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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