Okta (NASDAQ:OKTA) Releases 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 $0.67. 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.

Analyst Ratings Changes

Several brokerages have issued reports on OKTA. DA Davidson cut their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group cut their target price on shares of Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Okta from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Mizuho cut their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. One equities 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’s stock. According to MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $98.62.

Okta Stock Performance

Okta stock traded up $0.86 on Tuesday, reaching $81.71. 8,843,771 shares of the stock were exchanged, compared to its average volume of 2,383,638. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The firm has a fifty day moving average price of $75.03 and a two-hundred day moving average price of $84.42.

Insider Activity

In other news, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now owns 8,495 shares of the company’s stock, valued at approximately $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,789 shares of company stock valued at $35,701,361. 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.