Okta (NASDAQ:OKTA) Updates FY 2025 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.750-2.760 for the period, compared to the consensus earnings per share estimate of 2.610. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Okta also updated its Q4 guidance to $0.73-$0.74 EPS.

Okta Stock Up 1.1 %

Shares of NASDAQ:OKTA traded up $0.86 during midday trading on Tuesday, hitting $81.71. 7,999,645 shares of the company’s stock were exchanged, compared to its average volume of 2,383,638. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $75.03 and a 200-day moving average price of $84.42. Okta has a 12 month low of $70.56 and a 12 month high of $114.50.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Thursday, August 29th. Wells Fargo & Company cut their price target on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $92.00 to $97.00 in a report on Monday. Canaccord Genuity Group cut their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, BTIG Research cut their price target on shares of Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Okta presently has an average rating of “Hold” and an average target price of $98.62.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 in the last quarter. Insiders own 7.00% of the company’s stock.

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.