Okta (OKTA) to Release Quarterly Earnings on Monday

Okta (NASDAQ:OKTA) is expected to be issuing its quarterly earnings data after the market closes on Monday, March 3rd. Analysts expect the company to announce earnings of $0.73 per share and revenue of $669.10 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Okta Stock Down 2.6 %

Shares of NASDAQ OKTA opened at $92.75 on Monday. Okta has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50-day simple moving average is $88.64 and its 200-day simple moving average is $82.51.

Insider Transactions at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 980,908 shares of company stock worth $85,025,665. Company insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of analyst reports. Piper Sandler lifted their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. BTIG Research lifted their target price on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Mizuho lifted their target price on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $106.13.

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.