Okta Inc. (OKTA)

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Okta, Inc. Forecasted to Post FY2023 Earnings of ($1.69) Per Share
By: MarketBeat | April 14, 2021

• Okta, Inc. (NASDAQ:OKTA) - Stock analysts at Truist Securiti decreased their FY2023 earnings per share (EPS) estimates for shares of Okta in a note issued to investors on Thursday, April 8th. Truist Securiti analyst J. Fishbein now forecasts that the company will post earnings per share of ($1.69) for the year, down from their prior forecast of ($1.66). Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, March 2nd. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.01) by $0.07. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The company had revenue of $234.74 million during the quarter, compared to analyst estimates of $221.99 million. During the same period in the previous year, the business earned ($0.01) EPS. Okta's quarterly revenue was up 40.3% on a year-over-year basis.

OKTA has been the subject of several other reports. Piper Sandler cut their price objective on Okta from $250.00 to $235.00 and set a "neutral" rating for the company in a research note on Wednesday, March 10th. Mizuho dropped their price target on Okta from $305.00 to $255.00 and set a "neutral" rating for the company in a research report on Wednesday, March 10th. DA Davidson upped their price target on Okta from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, March 4th. KeyCorp upped their price target on Okta from $282.00 to $313.00 in a research report on Monday, December 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Okta from $313.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, March 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. The stock has an average rating of "Buy" and a consensus price target of $262.25.

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