Okta (NASDAQ:OKTA) Issues FY25 Earnings Guidance

Okta (NASDAQ:OKTA) updated its FY25 earnings guidance on Wednesday. The company provided EPS guidance of $2.58-2.63 for the period, compared to the consensus EPS estimate of $2.41. The company issued revenue guidance of $2.555-2.565 billion, compared to the consensus revenue estimate of $2.54 billion. Okta also updated its Q3 guidance to $0.57-0.58 EPS.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. Royal Bank of Canada reissued an outperform rating and set a $125.00 price target on shares of Okta in a report on Monday, June 17th. UBS Group cut their price target on shares of Okta from $130.00 to $120.00 and set a buy rating for the company in a report on Thursday, May 30th. Susquehanna cut their price target on shares of Okta from $115.00 to $110.00 and set a neutral rating for the company in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price target on shares of Okta from $105.00 to $110.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Finally, Mizuho increased their price target on shares of Okta from $105.00 to $110.00 and gave the stock a neutral rating in a report on Friday, May 17th. Nineteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $105.58.

Okta Trading Down 0.5 %

Shares of OKTA stock traded down $0.44 during trading hours on Wednesday, reaching $96.54. 3,708,083 shares of the stock traded hands, compared to its average volume of 1,810,852. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $16.24 billion, a PE ratio of -57.81 and a beta of 1.03. Okta has a 1-year low of $65.04 and a 1-year high of $114.50. The business has a fifty day moving average price of $93.19 and a 200 day moving average price of $95.53.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, equities research analysts forecast that Okta will post -0.28 EPS for the current year.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the transaction, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the transaction, the chief executive officer now directly owns 47,883 shares in the company, valued at approximately $4,473,229.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the transaction, the insider now owns 27,014 shares in the company, valued at $2,485,828.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 365,051 shares of company stock valued at $34,411,773. Company insiders own 7.00% of the company’s stock.

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.