Okta (NASDAQ:OKTA) Updates 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 Q3 guidance to $0.57-0.58 EPS.

Okta Stock Down 0.5 %

NASDAQ:OKTA traded down $0.44 during mid-day trading on Wednesday, reaching $96.54. The stock had a trading volume of 3,986,373 shares, compared to its average volume of 1,812,529. The business’s 50 day moving average is $93.19 and its 200 day moving average is $95.53. Okta has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The stock has a market cap of $16.24 billion, a P/E ratio of -57.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The company had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. As a group, sell-side analysts predict that Okta will post -0.28 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the topic of several analyst reports. Guggenheim reiterated a buy rating and set a $130.00 price target on shares of Okta in a report on Tuesday, June 25th. Needham & Company LLC reaffirmed a buy rating and issued a $130.00 target price on shares of Okta in a research report on Thursday, May 30th. Susquehanna reduced their target price on Okta from $115.00 to $110.00 and set a neutral rating for the company in a research report on Thursday, May 30th. UBS Group cut their price objective on Okta from $130.00 to $120.00 and set a buy rating for the company in a report on Thursday, May 30th. Finally, Evercore ISI upgraded Okta from an in-line rating to an outperform rating and raised their target price for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $105.58.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the sale, the insider now owns 29,809 shares in the company, valued at approximately $2,963,014.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the transaction, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The disclosure for this sale can be found here. Insiders have sold 365,051 shares of company stock worth $34,411,773 in the last 90 days. 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.