Okta, Inc. (OKTA) Forecasted to Earn Q3 2018 Earnings of ($0.24) Per Share
Okta, Inc. (NASDAQ:OKTA) – Equities researchers at Oppenheimer Holdings issued their Q3 2018 earnings per share (EPS) estimates for shares of Okta in a note issued to investors on Monday. Oppenheimer Holdings analyst S. Eyal forecasts that the company will post earnings of ($0.24) per share for the quarter. Oppenheimer Holdings currently has a “Outperform” rating and a $32.00 price target on the stock. Oppenheimer Holdings also issued estimates for Okta’s Q4 2018 earnings at ($0.20) EPS, FY2018 earnings at ($0.96) EPS, Q1 2019 earnings at ($0.21) EPS, Q2 2019 earnings at ($0.21) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.17) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.51) EPS.
Other analysts have also recently issued reports about the company. William Blair began coverage on Okta in a research report on Wednesday, October 4th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, September 20th. Canaccord Genuity boosted their price objective on Okta from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, September 8th. Finally, KeyCorp restated a “buy” rating on shares of Okta in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.17.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.03). The company had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. The business’s revenue for the quarter was up 63.1% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of OKTA. Quantbot Technologies LP purchased a new stake in shares of Okta during the second quarter worth approximately $101,000. CI Investments Inc. purchased a new stake in shares of Okta during the second quarter worth approximately $171,000. Paulson & CO. Inc. purchased a new stake in shares of Okta during the second quarter worth approximately $171,000. American Century Companies Inc. purchased a new stake in shares of Okta during the second quarter worth approximately $201,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Okta during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 13.00% of the company’s stock.
In other news, General Counsel Jonathan T. Runyan sold 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $27.03, for a total value of $8,109,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Okta Company Profile
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
Receive News & Stock Ratings for Okta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta Inc. and related stocks with our FREE daily email newsletter.