Wall Street analysts expect that Okta Inc (NASDAQ:OKTA) will announce sales of $155.77 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Okta’s earnings, with the lowest sales estimate coming in at $155.00 million and the highest estimate coming in at $156.50 million. Okta reported sales of $115.47 million in the same quarter last year, which would suggest a positive year over year growth rate of 34.9%. The company is expected to announce its next quarterly earnings results on Thursday, March 5th.

According to Zacks, analysts expect that Okta will report full-year sales of $574.57 million for the current financial year, with estimates ranging from $573.74 million to $575.30 million. For the next year, analysts anticipate that the business will report sales of $755.68 million, with estimates ranging from $750.00 million to $762.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Okta.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, December 5th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Okta had a negative return on equity of 53.08% and a negative net margin of 35.43%. The business had revenue of $153.04 million for the quarter, compared to the consensus estimate of $143.88 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 45.0% compared to the same quarter last year.

OKTA has been the topic of several analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $135.00 target price (down from $155.00) on shares of Okta in a report on Friday, December 6th. They noted that the move was a valuation call. Goldman Sachs Group boosted their target price on Okta from $141.00 to $144.00 and gave the stock a “positive” rating in a report on Friday, December 6th. ValuEngine downgraded Okta from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Canaccord Genuity boosted their target price on Okta from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Okta in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $133.72.

Okta stock traded up $3.44 during mid-day trading on Monday, hitting $116.69. The company had a trading volume of 1,289,765 shares, compared to its average volume of 1,694,348. The company has a current ratio of 3.19, a quick ratio of 1.12 and a debt-to-equity ratio of 2.47. The stock’s 50 day moving average price is $117.65 and its two-hundred day moving average price is $120.94. Okta has a 12 month low of $52.05 and a 12 month high of $141.85. The company has a market capitalization of $13.74 billion, a PE ratio of -113.29 and a beta of 1.07.

In related news, CFO William E. Losch sold 21,108 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $102.73, for a total transaction of $2,168,424.84. Following the completion of the sale, the chief financial officer now owns 12,572 shares in the company, valued at $1,291,521.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Race sold 794 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $102.57, for a total value of $81,440.58. Following the sale, the insider now owns 11,334 shares of the company’s stock, valued at approximately $1,162,528.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,789 shares of company stock worth $43,553,128. Corporate insiders own 14.69% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. CSat Investment Advisory L.P. purchased a new stake in Okta during the second quarter valued at $34,000. Griffin Asset Management Inc. purchased a new stake in Okta during the second quarter valued at $45,000. Captrust Financial Advisors increased its position in Okta by 196.2% during the second quarter. Captrust Financial Advisors now owns 385 shares of the company’s stock valued at $48,000 after acquiring an additional 255 shares during the last quarter. CenterStar Asset Management LLC increased its position in Okta by 123.6% during the second quarter. CenterStar Asset Management LLC now owns 430 shares of the company’s stock valued at $53,000 after acquiring an additional 2,253 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Okta during the second quarter valued at $68,000. Institutional investors own 73.02% 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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