Okta, Inc. (OKTA) Releases FY18 Earnings Guidance
Okta, Inc. (NASDAQ:OKTA) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.98-0.95) for the period, compared to the Thomson Reuters consensus estimate of ($1.13). The company issued revenue guidance of $243-245 million, compared to the consensus revenue estimate of $235.60 million.Okta also updated its Q3 guidance to ($0.24)-(0.25) EPS.
Several research analysts have weighed in on the company. Canaccord Genuity restated a hold rating and issued a $27.00 price target on shares of Okta in a research note on Friday, June 9th. KeyCorp restated a buy rating on shares of Okta in a research note on Friday, September 1st. Zacks Investment Research downgraded Okta from a hold rating to a sell rating in a research note on Friday, September 1st. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Okta currently has an average rating of Hold and a consensus price target of $29.50.
Okta, Inc. (NASDAQ:OKTA) traded up 0.37% on Thursday, hitting $27.12. The stock had a trading volume of 581,798 shares. The company’s market cap is $2.58 billion. Okta, Inc. has a 12 month low of $21.52 and a 12 month high of $28.25. The company has a 50-day moving average of $24.24 and a 200 day moving average of $24.17.
Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, June 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.11. The firm had revenue of $53 million during the quarter, compared to analyst estimates of $48.23 million. The firm’s revenue was up 66.7% compared to the same quarter last year. On average, analysts predict that Okta, Inc. will post ($1.13) EPS for the current fiscal 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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