Okta (OKTA) to Release Earnings on Tuesday

Okta (NASDAQ:OKTA) will be releasing its quarterly earnings results after the market closes on Tuesday, December 3rd. Analysts expect Okta to post earnings of $0.57 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. On average, analysts expect Okta to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Okta Trading Down 0.1 %

Shares of NASDAQ:OKTA opened at $76.50 on Tuesday. Okta has a 52 week low of $66.69 and a 52 week high of $114.50. The company’s 50 day moving average is $74.77 and its two-hundred day moving average is $85.17. The company has a market cap of $12.99 billion, a PE ratio of -91.07, a P/E/G ratio of 18.75 and a beta of 1.02. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BTIG Research dropped their target price on Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Truist Financial dropped their price objective on Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. UBS Group decreased their target price on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Citigroup lowered their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Barclays assumed coverage on shares of Okta in a report on Tuesday, November 19th. They set an “equal weight” rating and a $81.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.30.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This trade represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,789 shares of company stock worth $35,701,361. Company 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.