Brokerages expect Okta Inc (NASDAQ:OKTA) to post $131.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Okta’s earnings, with the lowest sales estimate coming in at $130.00 million and the highest estimate coming in at $136.10 million. Okta reported sales of $94.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 38.6%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 28th.

According to Zacks, analysts expect that Okta will report full year sales of $547.55 million for the current year, with estimates ranging from $545.00 million to $556.90 million. For the next year, analysts anticipate that the business will post sales of $717.42 million, with estimates ranging from $700.00 million to $741.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Okta.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. The company had revenue of $125.20 million during the quarter, compared to analyst estimates of $116.83 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Okta’s revenue was up 49.8% compared to the same quarter last year.

OKTA has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Okta to $154.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. BMO Capital Markets started coverage on Okta in a research note on Thursday, August 1st. They set a “market perform” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Okta from $88.00 to $127.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Zacks Investment Research upgraded Okta from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, BidaskClub upgraded Okta from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Okta currently has an average rating of “Buy” and a consensus price target of $107.35.

In other Okta news, insider Jacques Frederic Kerrest sold 1,784 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $131.52, for a total value of $234,631.68. Following the sale, the insider now owns 1,664 shares of the company’s stock, valued at $218,849.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William E. Losch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $125.65, for a total value of $2,513,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,604 shares of company stock worth $91,155,096. Corporate insiders own 14.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in OKTA. Dimensional Fund Advisors LP increased its stake in Okta by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 158,917 shares of the company’s stock worth $10,137,000 after buying an additional 27,395 shares during the period. Principal Financial Group Inc. grew its position in Okta by 96.8% during the 4th quarter. Principal Financial Group Inc. now owns 9,885 shares of the company’s stock worth $631,000 after acquiring an additional 4,862 shares during the last quarter. Geode Capital Management LLC grew its position in Okta by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 828,545 shares of the company’s stock worth $52,860,000 after acquiring an additional 87,926 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Okta during the 1st quarter worth approximately $385,000. Finally, Wedbush Securities Inc. bought a new position in Okta during the 1st quarter worth approximately $333,000. 69.56% of the stock is currently owned by institutional investors.

Shares of OKTA traded down $3.20 during trading hours on Friday, hitting $133.87. The stock had a trading volume of 1,437,100 shares, compared to its average volume of 2,040,687. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. Okta has a 12 month low of $41.88 and a 12 month high of $141.85. The firm has a market capitalization of $14.36 billion, a PE ratio of -129.97 and a beta of 1.01. The stock has a fifty day moving average price of $133.02 and a 200 day moving average price of $107.41.

About Okta

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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