$78.79 Million in Sales Expected for Okta (OKTA) This Quarter

Equities analysts expect Okta (NASDAQ:OKTA) to post $78.79 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Okta’s earnings, with the highest sales estimate coming in at $79.00 million and the lowest estimate coming in at $78.70 million. Okta posted sales of $53.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 48.6%. The firm is scheduled to issue its next earnings report on Wednesday, June 6th.

On average, analysts expect that Okta will report full year sales of $347.20 million for the current year, with estimates ranging from $346.00 million to $348.00 million. For the next financial year, analysts anticipate that the company will post sales of $462.35 million per share, with estimates ranging from $457.60 million to $465.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.05. Okta had a negative return on equity of 65.56% and a negative net margin of 43.99%. The business had revenue of $77.80 million for the quarter, compared to the consensus estimate of $76.77 million. The business’s revenue was up 59.4% compared to the same quarter last year.



Several research analysts have recently commented on the company. JPMorgan Chase lifted their price objective on Okta to $50.00 and gave the stock an “overweight” rating in a report on Thursday, March 8th. Oppenheimer lifted their price objective on Okta from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. FBN Securities assumed coverage on Okta in a report on Monday, January 22nd. They issued an “outperform” rating and a $35.00 price objective on the stock. BidaskClub upgraded Okta from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 22nd. Finally, Deutsche Bank assumed coverage on Okta in a report on Friday, February 23rd. They issued a “buy” rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $42.09.

NASDAQ OKTA opened at $40.59 on Friday. Okta has a twelve month low of $21.52 and a twelve month high of $42.88. The stock has a market cap of $4,222.87 and a price-to-earnings ratio of -29.63.

In related news, General Counsel Jonathan T. Runyan sold 9,375 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $30.02, for a total value of $281,437.50. Following the sale, the general counsel now directly owns 9,375 shares of the company’s stock, valued at $281,437.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. Losch sold 16,400 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $30.04, for a total value of $492,656.00. Following the completion of the sale, the chief financial officer now directly owns 16,400 shares in the company, valued at $492,656. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,575 shares of company stock worth $8,307,050.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. grew its stake in shares of Okta by 1.9% in the fourth quarter. OppenheimerFunds Inc. now owns 106,850 shares of the company’s stock worth $2,736,000 after purchasing an additional 1,954 shares during the last quarter. Peregrine Capital Management LLC boosted its position in Okta by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 315,659 shares of the company’s stock valued at $8,084,000 after acquiring an additional 1,980 shares in the last quarter. California State Teachers Retirement System boosted its position in Okta by 11.2% during the 3rd quarter. California State Teachers Retirement System now owns 21,900 shares of the company’s stock valued at $618,000 after acquiring an additional 2,200 shares in the last quarter. Rhumbline Advisers boosted its position in Okta by 25.6% during the 4th quarter. Rhumbline Advisers now owns 16,469 shares of the company’s stock valued at $422,000 after acquiring an additional 3,358 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Okta by 32.3% during the 3rd quarter. Wells Fargo & Company MN now owns 14,013 shares of the company’s stock valued at $395,000 after acquiring an additional 3,421 shares in the last quarter. 38.06% of the stock is currently owned by institutional investors.

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About Okta

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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