$143.45 Million in Sales Expected for Okta Inc (NASDAQ:OKTA) This Quarter
Wall Street brokerages forecast that Okta Inc (NASDAQ:OKTA) will report sales of $143.45 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Okta’s earnings, with the lowest sales estimate coming in at $142.10 million and the highest estimate coming in at $144.00 million. Okta reported sales of $105.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 35.9%. The company is expected to announce its next quarterly earnings results on Wednesday, December 4th.
According to Zacks, analysts expect that Okta will report full-year sales of $561.61 million for the current fiscal year, with estimates ranging from $556.90 million to $563.00 million. For the next fiscal year, analysts expect that the firm will report sales of $731.13 million, with estimates ranging from $700.00 million to $750.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $140.48 million during the quarter, compared to the consensus estimate of $131.19 million. Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. Okta’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS.
OKTA traded down $4.28 on Friday, hitting $102.09. The company’s stock had a trading volume of 2,783,982 shares, compared to its average volume of 2,802,908. The company’s 50 day simple moving average is $128.82 and its 200-day simple moving average is $111.90. The firm has a market cap of $12.42 billion, a P/E ratio of -99.12 and a beta of 1.06. Okta has a 12 month low of $41.88 and a 12 month high of $141.85. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.57.
In other news, General Counsel Jonathan T. Runyan sold 493 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $127.85, for a total transaction of $63,030.05. Following the sale, the general counsel now owns 1,406 shares in the company, valued at approximately $179,757.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 250,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $132.27, for a total transaction of $33,067,500.00. Following the sale, the chief executive officer now owns 206,500 shares in the company, valued at approximately $27,313,755. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 741,820 shares of company stock worth $96,287,465. Corporate insiders own 14.69% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in Okta by 76.9% in the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Valeo Financial Advisors LLC raised its position in Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after purchasing an additional 131 shares during the period. Focused Wealth Management Inc purchased a new position in Okta in the 2nd quarter worth $30,000. Truewealth LLC purchased a new position in Okta in the 2nd quarter worth $33,000. Finally, CSat Investment Advisory L.P. purchased a new position in Okta in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 70.94% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.