Okta (NASDAQ:OKTA) Releases Q4 Earnings Guidance

Okta (NASDAQ:OKTA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.73-$0.74 for the period, compared to the consensus estimate of $0.67. The company issued revenue guidance of $667-$669 million, compared to the consensus revenue estimate of $651.29 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Okta Price Performance

Shares of NASDAQ:OKTA traded up $0.86 during mid-day trading on Tuesday, reaching $81.71. 7,831,139 shares of the company’s stock were exchanged, compared to its average volume of 2,383,638. The business’s fifty day moving average price is $75.03 and its 200-day moving average price is $84.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta has a twelve month low of $70.56 and a twelve month high of $114.50.

Wall Street Analyst Weigh In

OKTA has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Mizuho dropped their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and dropped their target price for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Finally, Royal Bank of Canada dropped their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.62.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 475,789 shares of company stock worth $35,701,361. 7.00% of the stock is owned by corporate 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.