Equities analysts expect that Okta Inc (NASDAQ:OKTA) will report sales of $131.09 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Okta’s earnings, with the highest sales estimate coming in at $136.10 million and the lowest estimate coming in at $130.00 million. Okta posted sales of $94.59 million in the same quarter last year, which suggests a positive year over year growth rate of 38.6%. The company is scheduled to report its next earnings results after the market closes on Wednesday, August 28th.

On average, analysts expect that Okta will report full-year sales of $547.55 million for the current financial year, with estimates ranging from $545.00 million to $556.90 million. For the next year, analysts anticipate that the firm will report sales of $717.42 million, with estimates ranging from $700.00 million to $741.30 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Okta.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $116.83 million. Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. Okta’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) earnings per share.

Several research analysts recently weighed in on the company. SunTrust Banks upped their price target on Okta to $130.00 and gave the company a “hold” rating in a research report on Wednesday. Needham & Company LLC upped their price target on Okta to $154.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley upped their price target on Okta from $85.00 to $107.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. ValuEngine lowered Okta from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cowen assumed coverage on Okta in a research report on Wednesday. They set an “outperform” rating and a $150.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Okta currently has a consensus rating of “Buy” and an average target price of $107.35.

NASDAQ:OKTA traded down $1.41 during trading hours on Friday, hitting $132.46. 1,696,814 shares of the company’s stock traded hands, compared to its average volume of 1,518,610. The firm has a market cap of $15.64 billion, a P/E ratio of -128.60 and a beta of 1.01. Okta has a twelve month low of $41.88 and a twelve month high of $141.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average price is $133.26 and its two-hundred day moving average price is $107.91.

In other Okta news, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $125.65, for a total value of $2,513,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Benjamin A. Horowitz sold 48,897 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $135.57, for a total value of $6,628,966.29. Following the completion of the transaction, the director now owns 15,735 shares in the company, valued at approximately $2,133,193.95. The disclosure for this sale can be found here. Insiders sold 693,604 shares of company stock worth $91,155,096 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC boosted its stake in shares of Okta by 76.9% during the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Okta by 122.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after acquiring an additional 131 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of Okta during the 2nd quarter worth about $30,000. Truewealth LLC bought a new stake in shares of Okta during the 2nd quarter worth about $33,000. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Okta during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 69.56% of the company’s stock.

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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