Brokers Issue Forecasts for Okta, Inc.’s Q3 2018 Earnings (OKTA)
Okta, Inc. (NASDAQ:OKTA) – Equities researchers at William Blair issued their Q3 2018 earnings per share (EPS) estimates for shares of Okta in a note issued to investors on Wednesday. William Blair analyst J. Ho anticipates that the company will earn ($0.25) per share for the quarter. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Okta’s Q4 2018 earnings at ($0.21) EPS, FY2018 earnings at ($0.96) EPS, Q1 2019 earnings at ($0.21) EPS, Q2 2019 earnings at ($0.22) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.17) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.48) EPS.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, September 20th. KeyCorp restated a “buy” rating on shares of Okta in a report on Friday, September 1st. Canaccord Genuity lifted their price objective on Okta from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, September 8th. Finally, Pacific Crest restated an “outperform” rating and set a $32.00 price objective on shares of Okta in a report on Monday, June 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.20.
Shares of Okta (OKTA) traded up 0.739% during trading on Friday, reaching $27.955. The company had a trading volume of 588,680 shares. The company’s market capitalization is $538.47 million. The firm has a 50-day moving average price of $27.50 and a 200-day moving average price of $24.95. Okta has a 52-week low of $21.52 and a 52-week high of $33.64.
Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). The company had revenue of $61.00 million during the quarter, compared to analysts’ expectations of $55.90 million. Okta’s quarterly revenue was up 63.1% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in Okta during the 2nd quarter worth approximately $101,000. CI Investments Inc. purchased a new stake in Okta during the 2nd quarter worth approximately $171,000. Paulson & CO. Inc. purchased a new stake in Okta during the 2nd quarter worth approximately $171,000. American Century Companies Inc. purchased a new stake in Okta during the 2nd quarter worth approximately $201,000. Finally, Pacad Investment Ltd. purchased a new stake in Okta during the 2nd quarter worth approximately $207,000. Institutional investors own 15.03% of the company’s stock.
Okta Company Profile
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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