Okta (NASDAQ:OKTA) updated its FY20 earnings guidance on Wednesday. The company provided EPS guidance of $(0.44)-(0.42) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.46). The company issued revenue guidance of $560-563 million, compared to the consensus revenue estimate of $549.04 million.Okta also updated its Q3 guidance to $(0.13)-(0.12) EPS.
A number of equities analysts have commented on the stock. SunTrust Banks upped their price objective on shares of Okta to $130.00 and gave the stock a hold rating in a research report on Wednesday, August 21st. Monness Crespi & Hardt downgraded shares of Okta from a buy rating to a neutral rating in a research report on Tuesday, May 28th. Needham & Company LLC upped their price target on shares of Okta to $154.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Robert W. Baird set a $120.00 price target on shares of Okta and gave the stock a hold rating in a research note on Monday. Finally, Zacks Investment Research raised shares of Okta from a sell rating to a hold rating in a research note on Wednesday, June 5th. Ten investment 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 stock. The company has an average rating of Buy and a consensus target price of $110.10.
NASDAQ OKTA traded down $1.90 during trading hours on Wednesday, reaching $133.17. The company’s stock had a trading volume of 2,183,244 shares, compared to its average volume of 2,039,514. The stock has a market cap of $15.12 billion, a PE ratio of -129.29 and a beta of 1.01. Okta has a fifty-two week low of $41.88 and a fifty-two week high of $141.85. The company’s 50-day moving average is $133.58 and its two-hundred day moving average is $109.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12.
Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.01. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $116.83 million. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The firm’s revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) EPS. Equities analysts expect that Okta will post -1.35 earnings per share for the current fiscal year.
In related news, CFO William E. Losch sold 20,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $136.79, for a total value of $2,735,800.00. Following the sale, the chief financial officer now directly owns 30,366 shares of the company’s stock, valued at approximately $4,153,765.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Jonathan T. Runyan sold 493 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $127.85, for a total transaction of $63,030.05. Following the completion of the sale, the general counsel now directly owns 1,406 shares in the company, valued at $179,757.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 693,604 shares of company stock worth $91,155,096. 14.69% of the stock is owned by corporate insiders.
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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