Okta (NASDAQ:OKTA) Updates FY 2025 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its FY 2025 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.750-2.760 for the period, compared to the consensus earnings per share estimate of 2.610. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Okta also updated its Q4 guidance to $0.73-$0.74 EPS.

Okta Stock Performance

Shares of Okta stock traded up $0.86 during mid-day trading on Tuesday, hitting $81.71. The stock had a trading volume of 8,843,771 shares, compared to its average volume of 2,383,638. The firm has a 50-day moving average of $75.03 and a two-hundred day moving average of $84.42. Okta has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. BTIG Research reduced their target price on shares of Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Needham & Company LLC began coverage on shares of Okta in a report on Thursday, October 17th. They set a “buy” rating and a $100.00 target price on the stock. Canaccord Genuity Group reduced their target price on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Finally, BMO Capital Markets raised their price objective on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.62.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. The trade was a 95.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock worth $35,701,361 over the last 90 days. 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.