Okta (NASDAQ:OKTA) Issues FY25 Earnings Guidance

Okta (NASDAQ:OKTA) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.58-2.63 for the period, compared to the consensus earnings per share estimate of $2.41. The company issued revenue guidance of $2.555-2.565 billion, compared to the consensus revenue estimate of $2.54 billion. Okta also updated its FY 2025 guidance to 2.580-2.630 EPS.

Okta Stock Performance

NASDAQ:OKTA opened at $79.51 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $13.38 billion, a PE ratio of -47.61 and a beta of 1.03. The firm has a 50 day simple moving average of $93.23 and a 200-day simple moving average of $95.43. Okta has a 1-year low of $65.04 and a 1-year high of $114.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. On average, equities analysts expect that Okta will post -0.28 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America cut Okta from a buy rating to an underperform rating and lowered their price target for the company from $135.00 to $75.00 in a report on Thursday. Truist Financial reaffirmed a hold rating and set a $95.00 price target (down previously from $105.00) on shares of Okta in a research report on Thursday. Jefferies Financial Group decreased their price target on shares of Okta from $110.00 to $100.00 and set a hold rating on the stock in a report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Okta from $95.00 to $90.00 and set a hold rating for the company in a research note on Thursday. Finally, Royal Bank of Canada restated an outperform rating and set a $125.00 price objective on shares of Okta in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $104.81.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Larissa Schwartz sold 2,792 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Insiders sold a total of 365,051 shares of company stock worth $34,411,773 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

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.