Okta, Inc. Expected to Post FY2025 Earnings of $0.23 Per Share (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) – Research analysts at DA Davidson upped their FY2025 EPS estimates for shares of Okta in a research note issued to investors on Thursday, August 29th. DA Davidson analyst R. Kessinger now anticipates that the company will earn $0.23 per share for the year, up from their previous estimate of ($0.27). DA Davidson has a “Neutral” rating and a $85.00 price objective on the stock. The consensus estimate for Okta’s current full-year earnings is ($0.24) per share. DA Davidson also issued estimates for Okta’s FY2026 earnings at $0.45 EPS.

Other analysts have also issued research reports about the stock. Robert W. Baird decreased their price target on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Okta from $130.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 target price on shares of Okta in a research report on Thursday. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and lowered their price target for the company from $135.00 to $75.00 in a research report on Thursday. Finally, Jefferies Financial Group reduced their target price on shares of Okta from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has an average rating of “Hold” and a consensus price target of $106.00.

Okta Stock Performance

Shares of OKTA stock opened at $78.73 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -47.14 and a beta of 1.03. The firm has a 50 day moving average of $93.07 and a 200-day moving average of $95.52. Okta has a 52 week low of $65.04 and a 52 week high of $114.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Okta by 0.8% in the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after acquiring an additional 128,906 shares during the period. Sands Capital Management LLC lifted its position in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after purchasing an additional 2,486,456 shares during the period. First Trust Advisors LP boosted its stake in shares of Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares in the last quarter. Marshall Wace LLP increased its position in shares of Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after buying an additional 1,227,890 shares during the period. Finally, Eminence Capital LP raised its stake in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after buying an additional 305,381 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $135,008.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Todd Mckinnon sold 179,687 shares of the 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 transaction, the chief executive officer now owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $135,008.48. The disclosure for this sale can be found here. In the last 90 days, insiders 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.