Okta (NASDAQ:OKTA) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $(0.13)-(0.12) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.09). The company issued revenue guidance of $143-144 million, compared to the consensus revenue estimate of $140.51 million.Okta also updated its FY20 guidance to $(0.44)-(0.42) EPS.
Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Okta from $107.00 to $117.00 and gave the company an equal weight rating in a research note on Thursday. They noted that the move was a valuation call. Piper Jaffray Companies lifted their price objective on shares of Okta from $120.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of Okta to $154.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. SunTrust Banks lifted their price objective on shares of Okta to $130.00 and gave the stock a hold rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird lifted their price objective on shares of Okta from $120.00 to $135.00 and gave the stock a neutral rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $123.50.
Shares of NASDAQ OKTA traded down $0.24 during mid-day trading on Friday, reaching $126.94. The company had a trading volume of 40,999 shares, compared to its average volume of 1,505,952. 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 has a one year low of $41.88 and a one year high of $141.85. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of -122.03 and a beta of 1.01. The business’s 50-day simple moving average is $133.38 and its 200 day simple moving average is $109.40.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. The business had revenue of $140.48 million for the quarter, compared to analysts’ expectations of $131.19 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The business’s revenue was up 48.5% on a year-over-year basis. On average, sell-side analysts anticipate that Okta will post -1.35 EPS for the current year.
In related news, CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $136.79, for a total value of $2,735,800.00. Following the transaction, the chief financial officer now directly owns 30,366 shares of the company’s stock, valued at approximately $4,153,765.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benjamin A. Horowitz sold 48,897 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $127.95, for a total value of $6,256,371.15. Following the completion of the transaction, the director now directly owns 15,735 shares in the company, valued at $2,013,293.25. 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 insiders.
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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