Okta (NASDAQ:OKTA) Releases Q3 Earnings Guidance

Okta (NASDAQ:OKTA) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.57-0.58 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on OKTA shares. Wells Fargo & Company lowered their target price on Okta from $100.00 to $90.00 and set an equal weight rating on the stock in a research note on Thursday. Citigroup lowered their price objective on shares of Okta from $115.00 to $110.00 and set a neutral rating on the stock in a research report on Thursday. Susquehanna cut their target price on shares of Okta from $115.00 to $110.00 and set a neutral rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on shares of Okta from $110.00 to $105.00 and set a neutral rating on the stock in a research note on Thursday. Finally, Westpark Capital reiterated a buy rating and set a $140.00 price objective on shares of Okta in a report on Thursday. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Okta has an average rating of Hold and a consensus price target of $104.81.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $79.51 on Friday. The company has a market cap of $13.38 billion, a P/E ratio of -47.61 and a beta of 1.03. Okta has a 12 month low of $65.04 and a 12 month high of $114.50. The business’s 50 day moving average is $93.23 and its two-hundred day moving average is $95.43. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. On average, equities analysts expect that Okta will post -0.28 EPS for the current year.

Insider Activity at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the 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.