Okta Inc. (OKTA)

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Okta, Inc. to Post FY2023 Earnings of ($1.66) Per Share, Truist Securiti Forecasts (NASDAQ:OKTA)
By: MarketBeat | March 26, 2021

Okta, Inc. (NASDAQ:OKTA) - Equities researchers at Truist Securiti issued their FY2023 earnings per share estimates for shares of Okta in a research note issued on Tuesday, March 23rd. Truist Securiti analyst J. Fishbein expects that the company will earn ($1.66) per share for the year. Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.01) by $0.07. The business had revenue of $234.74 million during the quarter, compared to the consensus estimate of $221.99 million. Okta had a negative net margin of 31.38% and a negative return on equity of 31.29%. The firm's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS.

Other equities analysts also recently issued research reports about the stock. KeyCorp increased their price objective on shares of Okta from $282.00 to $313.00 in a research note on Monday, December 21st. Piper Sandler dropped their price target on shares of Okta from $250.00 to $235.00 and set a "neutral" rating for the company in a research note on Wednesday, March 10th. The Goldman Sachs Group raised their price target on shares of Okta from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, December 3rd. Royal Bank of Canada raised their price target on shares of Okta from $264.00 to $300.00 in a research note on Tuesday, March 2nd. Finally, Pritchard Capital raised their price target on shares of Okta from $266.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, December 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Okta has an average rating of "Buy" and a consensus target price of $255.45.

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