Okta (NASDAQ:OKTA) Releases Q4 Earnings Guidance

Okta (NASDAQ:OKTA) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-$0.74 for the period, compared to the consensus estimate of $0.67. The company issued revenue guidance of $667-$669 million, compared to the consensus revenue estimate of $651.29 million. Okta also updated its FY 2025 guidance to 2.750-2.760 EPS.

Analysts Set New Price Targets

Several research firms have issued reports on OKTA. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Thursday, August 29th. Citigroup lowered their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Susquehanna lowered their price target on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Stifel Nicolaus lowered their price target on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.62.

Okta Stock Performance

Shares of NASDAQ OKTA traded up $0.86 during midday trading on Tuesday, hitting $81.71. 8,843,771 shares of the company’s stock were exchanged, compared to its average volume of 2,383,638. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50 day moving average price is $75.03 and its 200-day moving average price is $84.42. Okta has a twelve month low of $70.56 and a twelve month high of $114.50.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the sale, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 475,789 shares of company stock worth $35,701,361. Company insiders own 7.00% of the company’s stock.

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.