-$0.12 Earnings Per Share Expected for Okta Inc (NASDAQ:OKTA) This Quarter

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Equities research analysts predict that Okta Inc (NASDAQ:OKTA) will post earnings of ($0.12) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Okta’s earnings. The lowest EPS estimate is ($0.13) and the highest is ($0.12). Okta reported earnings of ($0.04) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 200%. The business is scheduled to issue its next earnings report on Wednesday, December 4th.

According to Zacks, analysts expect that Okta will report full-year earnings of ($0.43) per share for the current financial year, with EPS estimates ranging from ($0.44) to ($0.42). For the next year, analysts forecast that the firm will post earnings of ($0.21) per share, with EPS estimates ranging from ($0.41) to ($0.11). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Okta.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). The business had revenue of $140.48 million during the quarter, compared to analyst estimates of $131.19 million. Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS.

A number of brokerages recently issued reports on OKTA. DA Davidson raised their price target on Okta from $114.00 to $131.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price target on Okta from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. They noted that the move was a valuation call. BMO Capital Markets began coverage on Okta in a research note on Thursday, August 1st. They set a “market perform” rating and a $155.00 price target for the company. SunTrust Banks raised Okta from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $134.00 in a research note on Wednesday, October 2nd. Finally, ValuEngine lowered Okta from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $130.00.

In other Okta news, CEO Todd Mckinnon sold 250,000 shares of Okta stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $132.27, for a total transaction of $33,067,500.00. Following the completion of the sale, the chief executive officer now directly owns 206,500 shares of the company’s stock, valued at approximately $27,313,755. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Race sold 50,000 shares of Okta stock in a transaction on Friday, August 9th. The shares were sold at an average price of $133.19, for a total value of $6,659,500.00. Following the sale, the insider now directly owns 59,753 shares of the company’s stock, valued at $7,958,502.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 659,678 shares of company stock valued at $82,506,938. 14.69% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in shares of Okta by 76.9% in the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after acquiring an additional 131 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Okta in the 2nd quarter valued at $30,000. Truewealth LLC purchased a new position in shares of Okta in the 2nd quarter valued at $33,000. Finally, CSat Investment Advisory L.P. purchased a new position in shares of Okta in the 2nd quarter valued at $34,000. 69.31% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:OKTA traded down $1.87 during trading on Tuesday, hitting $99.29. The company had a trading volume of 2,950,437 shares, compared to its average volume of 2,322,700. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of -96.40 and a beta of 1.00. Okta has a one year low of $41.88 and a one year high of $141.85. The company has a fifty day simple moving average of $109.90 and a two-hundred day simple moving average of $116.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.12 and a quick ratio of 1.12.

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 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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