Okta (NASDAQ:OKTA) Releases Q4 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.73-0.74 for the period, compared to the consensus estimate of $0.74. The company issued revenue guidance of $667-669 million, compared to the consensus revenue estimate of $668.90 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Okta Trading Up 0.4 %

OKTA traded up $0.40 during trading on Tuesday, reaching $93.64. 955,080 shares of the company’s stock were exchanged, compared to its average volume of 2,523,815. The firm has a fifty day moving average price of $84.41 and a two-hundred day moving average price of $81.97. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta has a one year low of $70.56 and a one year high of $114.50. The stock has a market capitalization of $16.05 billion, a PE ratio of -267.63, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Truist Financial reiterated a “hold” rating and set a $92.00 target price (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Scotiabank reduced their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.55.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 913,168 shares of company stock worth $78,420,769. 7.00% of the stock is owned by company insiders.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.