Okta Inc (NASDAQ:OKTA) Expected to Announce Earnings of -$0.10 Per Share
Brokerages expect that Okta Inc (NASDAQ:OKTA) will announce earnings per share (EPS) of ($0.10) for the current quarter, according to Zacks. Ten analysts have made estimates for Okta’s earnings, with estimates ranging from ($0.11) to ($0.08). Okta reported earnings of ($0.15) per share in the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 28th.
According to Zacks, analysts expect that Okta will report full year earnings of ($0.46) per share for the current year, with EPS estimates ranging from ($0.50) to ($0.37). For the next fiscal year, analysts expect that the company will post earnings of ($0.19) per share, with EPS estimates ranging from ($0.35) to ($0.11). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Okta.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year.
In other news, CFO William E. Losch sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $125.65, for a total transaction of $2,513,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacques Frederic Kerrest sold 1,784 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $131.52, for a total transaction of $234,631.68. Following the transaction, the insider now owns 1,664 shares in the company, valued at $218,849.28. The disclosure for this sale can be found here. Insiders sold 644,707 shares of company stock worth $84,939,310 over the last quarter. 14.69% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Okta by 19.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,386,104 shares of the company’s stock valued at $1,159,277,000 after buying an additional 1,527,751 shares during the period. Coatue Management LLC lifted its position in shares of Okta by 234.1% during the 2nd quarter. Coatue Management LLC now owns 1,014,699 shares of the company’s stock worth $125,326,000 after buying an additional 711,032 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Okta by 761.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 528,622 shares of the company’s stock worth $65,290,000 after buying an additional 467,285 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Okta by 28.0% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,091,177 shares of the company’s stock worth $173,003,000 after buying an additional 457,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Okta during the 2nd quarter worth approximately $46,680,000. Institutional investors and hedge funds own 78.78% of the company’s stock.
Shares of NASDAQ OKTA traded up $0.99 during midday trading on Thursday, reaching $127.86. The stock had a trading volume of 21,124 shares, compared to its average volume of 1,393,250. The business’s 50-day simple moving average is $132.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $14.90 billion, a P/E ratio of -123.59 and a beta of 1.01. Okta has a 12-month low of $41.88 and a 12-month high of $141.85.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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