Analysts expect Okta Inc (NASDAQ:OKTA) to report sales of $116.66 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Okta’s earnings, with estimates ranging from $116.40 million to $117.00 million. Okta reported sales of $83.62 million in the same quarter last year, which indicates a positive year over year growth rate of 39.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, June 5th.
According to Zacks, analysts expect that Okta will report full year sales of $533.75 million for the current fiscal year, with estimates ranging from $532.50 million to $535.00 million. For the next financial year, analysts anticipate that the business will post sales of $696.74 million, with estimates ranging from $675.60 million to $705.95 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, March 7th. The company reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.03. The company had revenue of $115.47 million for the quarter, compared to the consensus estimate of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%.
In other news, General Counsel Jonathan T. Runyan sold 964 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $80.93, for a total value of $78,016.52. Following the sale, the general counsel now directly owns 6,380 shares in the company, valued at $516,333.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin A. Horowitz sold 98,242 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $71.76, for a total value of $7,049,845.92. Following the transaction, the director now owns 11,765 shares in the company, valued at $844,256.40. The disclosure for this sale can be found here. Insiders sold 809,905 shares of company stock worth $64,446,618 over the last 90 days. Company insiders own 20.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Okta by 27.5% in the 4th quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after acquiring an additional 1,996,090 shares during the last quarter. Renaissance Technologies LLC boosted its position in Okta by 2,210.1% during the third quarter. Renaissance Technologies LLC now owns 1,298,300 shares of the company’s stock valued at $91,348,000 after purchasing an additional 1,242,100 shares during the last quarter. Norges Bank acquired a new stake in Okta during the fourth quarter valued at $53,106,000. Morgan Stanley boosted its position in Okta by 49.3% during the third quarter. Morgan Stanley now owns 2,256,056 shares of the company’s stock valued at $158,736,000 after purchasing an additional 744,738 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Okta by 16.4% during the fourth quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock valued at $280,891,000 after purchasing an additional 618,835 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
OKTA opened at $84.23 on Tuesday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of -81.78 and a beta of 1.17. Okta has a one year low of $37.85 and a one year high of $87.72.
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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
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