Okta (OKTA) Set to Announce Earnings on Tuesday

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

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

Okta Stock Down 0.1 %

Shares of OKTA stock opened at $76.50 on Tuesday. Okta has a twelve month low of $66.69 and a twelve month high of $114.50. The stock has a market cap of $12.99 billion, a P/E ratio of -91.07, a P/E/G ratio of 18.75 and a beta of 1.02. The stock has a 50 day moving average of $74.77 and a 200 day moving average of $85.17. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 32,516 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 475,789 shares of company stock valued at $35,701,361. 7.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on OKTA shares. Piper Sandler lowered their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Mizuho dropped their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group cut their price target on Okta from $113.00 to $97.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered their price target on Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Bank of America lowered Okta from a “buy” rating to an “underperform” rating and decreased their target price for the company from $135.00 to $75.00 in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.30.

Okta Company Profile

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.