Okta (NASDAQ:OKTA) Issues FY 2025 Earnings Guidance

Okta (NASDAQ:OKTA) updated its FY 2025 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.580-2.630 for the period, compared to the consensus estimate of 2.420. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion. Okta also updated its FY25 guidance to $2.58-2.63 EPS.

Okta Price Performance

Shares of OKTA stock traded down $16.01 during trading hours on Thursday, hitting $80.53. The stock had a trading volume of 7,739,544 shares, compared to its average volume of 1,848,385. 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 stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of -48.54 and a beta of 1.03. Okta has a one year low of $65.04 and a one year high of $114.50. The stock’s 50-day moving average price is $93.37 and its two-hundred day moving average price is $95.54.

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

Analysts Set New Price Targets

A number of brokerages have commented on OKTA. Mizuho upped their target price on shares of Okta from $105.00 to $110.00 and gave the stock a neutral rating in a research note on Friday, May 17th. DA Davidson dropped their price target on Okta from $100.00 to $85.00 and set a neutral rating on the stock in a research report on Thursday. Canaccord Genuity Group cut their target price on shares of Okta from $95.00 to $90.00 and set a hold rating on the stock in a research report on Thursday. Bank of America lowered shares of Okta from a buy rating to an underperform rating and reduced their price target for the company from $135.00 to $75.00 in a report on Thursday. Finally, Piper Sandler cut their price objective on shares of Okta from $110.00 to $100.00 and set a neutral rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Okta has an average rating of Hold and a consensus target price of $103.84.

Insider Buying and Selling

In other Okta news, Director Jacques Frederic Kerrest sold 1,552 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Todd Mckinnon sold 179,687 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the sale, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the company’s stock in a transaction 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. In the last ninety days, insiders sold 365,051 shares of company stock valued at $34,411,773. 7.00% of the stock is currently owned by insiders.

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.