Okta, Inc. (OKTA) Issues Q3 Earnings Guidance
Okta, Inc. (NASDAQ:OKTA) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.24)-(0.25) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.29). The company issued revenue guidance of $62-63 million, compared to the consensus revenue estimate of $60.28 million.Okta also updated its FY18 guidance to ($0.98-0.95) EPS.
Several equities analysts recently commented on the stock. KeyCorp restated a buy rating on shares of Okta in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Okta from a hold rating to a sell rating in a research note on Friday, September 1st. Canaccord Genuity restated a hold rating and issued a $27.00 price target on shares of Okta in a research note on Wednesday, August 30th. Finally, Pacific Crest restated an outperform rating and issued a $32.00 price target on shares of Okta in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $29.50.
Okta, Inc. (NASDAQ:OKTA) traded up 0.37% during trading on Thursday, hitting $27.12. 579,274 shares of the company traded hands. The stock has a 50 day moving average price of $24.24 and a 200 day moving average price of $24.17. Okta, Inc. has a 12-month low of $21.52 and a 12-month high of $28.25. The company’s market capitalization is $2.58 billion.
Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, June 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.11. The firm had revenue of $53 million during the quarter, compared to the consensus estimate of $48.23 million. The business’s quarterly revenue was up 66.7% on a year-over-year basis. On average, equities analysts anticipate that Okta, Inc. will post ($1.13) earnings per share for the current year.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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