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.

Several research analysts have commented on the stock. SunTrust Banks raised their price target on shares of Okta to $130.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Monness Crespi & Hardt downgraded shares of Okta from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Guggenheim raised their price target on shares of Okta from $125.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Piper Jaffray Companies raised their price target on shares of Okta from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Deutsche Bank raised their price target on shares of Okta from $124.00 to $152.00 and gave the company a “buy” rating in a report on Friday, June 21st. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $128.67.

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.

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Earnings History and Estimates for Okta (NASDAQ:OKTA)

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