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 Stock Performance

NASDAQ:OKTA opened at $81.71 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a fifty day moving average of $75.15 and a two-hundred day moving average of $84.27. The stock has a market capitalization of $13.88 billion, a PE ratio of -97.27, a P/E/G ratio of 19.79 and a beta of 1.00. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

Analysts Set New Price Targets

OKTA has been the subject of a number of research analyst reports. Susquehanna upped their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday. Scotiabank reduced their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and reduced their target price for the company from $135.00 to $75.00 in a research report on Thursday, August 29th. Jefferies Financial Group increased their target price on shares of Okta from $85.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Okta from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus target price of $101.10.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 over the last three months. Company insiders own 7.00% of the company’s stock.

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.