Okta, Inc. Expected to Earn FY2020 Earnings of ($0.27) Per Share (OKTA)
Okta, Inc. (NASDAQ:OKTA) – Equities researchers at KeyCorp issued their FY2020 EPS estimates for shares of Okta in a note issued to investors on Sunday. KeyCorp analyst R. Owens expects that the company will post earnings of ($0.27) per share for the year. KeyCorp has a “Buy” rating and a $35.00 price target on the stock.
Several other brokerages also recently commented on OKTA. Zacks Investment Research upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Thursday, September 14th. BidaskClub downgraded shares of Okta from a “buy” rating to a “hold” rating in a report on Tuesday. Oppenheimer began coverage on shares of Okta in a report on Tuesday, October 10th. They issued an “outperform” rating and a $32.00 price objective on the stock. SunTrust Banks began coverage on shares of Okta in a report on Friday, October 27th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Canaccord Genuity lifted their price objective on shares of Okta from $27.00 to $28.00 and gave the company a “hold” rating in a report on Friday, September 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.71.
Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, September 7th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The business had revenue of $61.00 million for the quarter, compared to analysts’ expectations of $55.90 million. The business’s quarterly revenue was up 63.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Glynn Capital Management LLC acquired a new position in Okta during the second quarter worth $45,855,000. FMR LLC acquired a new position in Okta during the second quarter worth $23,135,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Okta during the second quarter worth $23,054,000. JPMorgan Chase & Co. increased its holdings in Okta by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock worth $29,291,000 after buying an additional 51,761 shares during the last quarter. Finally, Vanguard Group Inc. acquired a new position in Okta during the second quarter worth $21,749,000. Institutional investors own 14.33% of the company’s stock.
In other news, CFO William E. Losch sold 12,200 shares of Okta stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $28.63, for a total value of $349,286.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jonathan T. Runyan sold 300,000 shares of Okta stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $27.03, for a total transaction of $8,109,000.00. The disclosure for this sale can be found here. Insiders sold 1,366,929 shares of company stock worth $38,816,391 over the last quarter.
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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.
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