Okta (NASDAQ:OKTA) Issues Q4 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.73-0.74 for the period, compared to the consensus EPS estimate of $0.74. The company issued revenue guidance of $667-669 million, compared to the consensus revenue estimate of $668.90 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Okta Stock Performance

Shares of Okta stock traded up $0.40 on Tuesday, reaching $93.64. 955,080 shares of the stock were exchanged, compared to its average volume of 2,523,815. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of -267.63, a PEG ratio of 9.52 and a beta of 1.03. The business has a 50 day moving average price of $84.41 and a two-hundred day moving average price of $81.97.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Susquehanna boosted their price target on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target for the company in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and decreased their price target for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.55.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold a total of 913,168 shares of company stock worth $78,420,769 in the last quarter. 7.00% of the stock is owned by company insiders.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.