Okta (NASDAQ:OKTA) Issues Q4 Earnings Guidance

Okta (NASDAQ:OKTA) updated its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.73-0.74 for the period, compared to the consensus earnings per share estimate of $0.74. The company issued revenue guidance of $667-669 million, compared to the consensus revenue estimate of $668.90 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Sanford C. Bernstein decreased their target price on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Jefferies Financial Group reduced their price target on Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Susquehanna boosted their price target on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Scotiabank cut their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.55.

Okta Stock Performance

NASDAQ:OKTA traded up $0.61 during mid-day trading on Wednesday, reaching $95.02. 269,605 shares of the company’s stock were exchanged, compared to its average volume of 2,471,790. Okta has a one year low of $70.56 and a one year high of $114.50. 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 business’s fifty day simple moving average is $84.76 and its two-hundred day simple moving average is $81.97. The firm has a market capitalization of $16.28 billion, a PE ratio of -271.64, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 913,168 shares of company stock worth $78,420,769 in the last quarter. Corporate 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.