Okta (NASDAQ:OKTA) Updates Q4 Earnings Guidance

Okta (NASDAQ:OKTA) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.74 for the period, compared to the consensus 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.

Okta Trading Down 1.0 %

NASDAQ:OKTA opened at $96.52 on Thursday. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $85.18 and a 200-day moving average price of $82.08. The stock has a market cap of $16.54 billion, a price-to-earnings ratio of -275.84, a P/E/G ratio of 9.52 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKTA shares. Sanford C. Bernstein lowered their price target on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. DA Davidson raised their price target on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Mizuho reduced their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group lowered their price objective on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $104.55.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 913,168 shares of company stock valued at $78,420,769. 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.