Okta (OKTA) Expected to Announce Quarterly Earnings on Monday

Okta (NASDAQ:OKTA) is expected to release its earnings data after the market closes on Monday, March 3rd. Analysts expect Okta to post earnings of $0.73 per share and revenue of $669.10 million for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $92.75 on Monday. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The stock’s 50 day moving average price is $88.64 and its 200 day moving average price is $82.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKTA shares. Canaccord Genuity Group upped their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Jefferies Financial Group dropped their price target on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Robert W. Baird upped their price target on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein dropped their price target on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Okta currently has an average rating of “Hold” and a consensus target price of $106.13.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 980,908 shares of company stock worth $85,025,665. 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.