Okta (NASDAQ:OKTA) Updates Q3 Earnings Guidance

Okta (NASDAQ:OKTA) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.57-0.58 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $648-650 million, compared to the consensus revenue estimate of $639.14 million. Okta also updated its FY 2025 guidance to 2.580-2.630 EPS.

Okta Stock Performance

Shares of OKTA stock opened at $78.73 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The business has a fifty day moving average of $93.07 and a 200 day moving average of $95.38. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -47.14 and a beta of 1.03. Okta has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.27. The firm had revenue of $617.00 million during the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. As a group, research analysts expect that Okta will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OKTA shares. BMO Capital Markets raised their price target on shares of Okta from $100.00 to $103.00 and gave the stock a market perform rating in a research report on Thursday. Truist Financial reissued a hold rating and set a $95.00 target price (down previously from $105.00) on shares of Okta in a report on Thursday. The Goldman Sachs Group lowered their price target on shares of Okta from $130.00 to $113.00 and set a buy rating on the stock in a report on Thursday. Citigroup reduced their price objective on Okta from $115.00 to $110.00 and set a neutral rating for the company in a research note on Thursday. Finally, Guggenheim reissued a buy rating and issued a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $104.81.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Larissa Schwartz sold 2,792 shares of Okta stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the transaction, the insider now owns 29,809 shares in the company, valued at $2,963,014.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,051 shares of company stock worth $34,411,773. 7.00% of the stock is owned by corporate insiders.

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.