Okta (NASDAQ:OKTA) Issues FY25 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.58-2.63 for the period, compared to the consensus 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 FY 2025 guidance to 2.580-2.630 EPS.

Okta Price Performance

Okta stock opened at $79.51 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 stock has a market cap of $13.38 billion, a price-to-earnings ratio of -47.61 and a beta of 1.03. The firm has a 50-day moving average of $93.23 and a two-hundred day moving average of $95.43. 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 results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, research analysts forecast that Okta will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group cut their price target on Okta from $110.00 to $100.00 and set a hold rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of Okta from $100.00 to $90.00 and set an equal weight rating for the company in a research report on Thursday. Royal Bank of Canada reiterated an outperform rating and set a $125.00 price objective on shares of Okta in a research note on Thursday. Bank of America downgraded shares of Okta from a buy rating to an underperform rating and reduced their price objective for the stock from $135.00 to $75.00 in a research note on Thursday. Finally, Robert W. Baird dropped their target price on Okta from $108.00 to $105.00 and set an outperform rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $104.81.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 179,687 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the transaction, the chief executive officer now owns 47,883 shares in the company, valued at approximately $4,473,229.86. The sale was disclosed in a filing with the SEC, which is available through this link. In related 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 completion of the transaction, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction dated 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. In the last 90 days, insiders have sold 365,051 shares of company stock worth $34,411,773. 7.00% of the stock is currently owned by insiders.

About Okta

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.