$155.77 Million in Sales Expected for Okta Inc (NASDAQ:OKTA) This Quarter

Wall Street brokerages expect Okta Inc (NASDAQ:OKTA) to announce $155.77 million in sales for the current quarter, according to Zacks. Seven analysts have issued 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 business is expected to report its next earnings report on Thursday, March 5th.

According to Zacks, analysts expect that Okta will report full-year sales of $574.57 million for the current fiscal year, with estimates ranging from $573.74 million to $575.30 million. For the next fiscal year, analysts forecast that the company will post sales of $755.70 million, with estimates ranging from $750.00 million to $762.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, December 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. The company had revenue of $153.04 million during the quarter, compared to analyst estimates of $143.88 million. Okta had a negative return on equity of 53.08% and a negative net margin of 35.43%. The business’s revenue was up 45.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) EPS.

A number of research analysts recently issued reports on OKTA shares. BMO Capital Markets restated a “market perform” rating and set a $135.00 price objective (down previously from $155.00) on shares of Okta in a research report on Friday, December 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded Okta from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Jaffray Companies boosted their price target on Okta from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BidaskClub lowered Okta from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $135.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Okta has a consensus rating of “Hold” and a consensus price target of $134.67.

In other Okta news, General Counsel Jonathan T. Runyan sold 459 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $117.75, for a total value of $54,047.25. Following the completion of the transaction, the general counsel now owns 459 shares of the company’s stock, valued at approximately $54,047.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacques Frederic Kerrest sold 21,610 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $115.05, for a total value of $2,486,230.50. The disclosure for this sale can be found here. Insiders have sold a total of 292,270 shares of company stock valued at $36,048,678 in the last three months. 14.69% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of OKTA. Russell Investments Group Ltd. increased its position in shares of Okta by 26.7% in the second quarter. Russell Investments Group Ltd. now owns 1,527 shares of the company’s stock valued at $188,000 after buying an additional 322 shares in the last quarter. Paloma Partners Management Co increased its position in shares of Okta by 22.1% in the second quarter. Paloma Partners Management Co now owns 3,000 shares of the company’s stock valued at $371,000 after buying an additional 543 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Okta by 22.0% in the second quarter. California State Teachers Retirement System now owns 167,933 shares of the company’s stock valued at $20,741,000 after buying an additional 30,280 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Okta in the second quarter valued at $299,000. Finally, CSat Investment Advisory L.P. purchased a new position in shares of Okta in the second quarter valued at $34,000. 70.36% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:OKTA traded up $1.82 during midday trading on Thursday, reaching $129.66. 1,222,360 shares of the company traded hands, compared to its average volume of 1,136,981. Okta has a twelve month low of $70.44 and a twelve month high of $141.85. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of -79.06 and a beta of 0.99. The company has a debt-to-equity ratio of 2.47, a current ratio of 3.19 and a quick ratio of 3.19. The company has a fifty day moving average price of $121.14 and a 200 day moving average price of $120.69.

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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