Okta Inc. (OKTA)

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Okta, Inc. (NASDAQ:OKTA) Expected to Post Earnings of -$0.01 Per Share
By: MarketBeat | December 31, 2020

Equities research analysts forecast that Okta, Inc. (NASDAQ:OKTA) will post ($0.01) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Okta's earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.02). Okta also posted earnings per share of ($0.01) in the same quarter last year. The company is expected to announce its next quarterly earnings report on Thursday, March 4th.

According to Zacks, analysts expect that Okta will report full-year earnings of $0.04 per share for the current year, with EPS estimates ranging from $0.03 to $0.05. For the next year, analysts anticipate that the firm will report earnings of ($0.17) per share, with EPS estimates ranging from ($0.54) to $0.11. Zacks' EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $217.40 million for the quarter, compared to analysts' expectations of $203.15 million. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The business's revenue for the quarter was up 42.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share.

A number of equities research analysts have weighed in on OKTA shares. Canaccord Genuity upped their price target on shares of Okta from $218.00 to $250.00 and gave the company a "hold" rating in a report on Thursday, December 3rd. Oppenheimer upped their price target on shares of Okta from $250.00 to $295.00 in a report on Thursday, December 3rd. Piper Sandler upped their price target on shares of Okta from $225.00 to $250.00 in a report on Thursday, December 3rd. Morgan Stanley upped their price target on shares of Okta from $231.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, December 3rd. Finally, Mizuho upped their price target on shares of Okta from $255.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, December 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of "Buy" and an average target price of $242.55.

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