Brokers Issue Forecasts for Okta, Inc.’s FY2018 Earnings (OKTA)
Okta, Inc. (NASDAQ:OKTA) – Research analysts at KeyCorp raised their FY2018 earnings per share estimates for shares of Okta in a research report issued on Tuesday. KeyCorp analyst R. Owens now expects that the company will earn ($1.13) per share for the year, up from their previous estimate of ($1.16). KeyCorp has a “Buy” rating on the stock. KeyCorp also issued estimates for Okta’s Q4 2018 earnings at ($0.21) EPS and FY2019 earnings at ($0.83) EPS.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, June 7th. The company reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.11. The business had revenue of $53 million for the quarter, compared to analyst estimates of $48.23 million. The business’s revenue for the quarter was up 66.7% on a year-over-year basis.
Several other equities research analysts also recently commented on OKTA. Zacks Investment Research downgraded shares of Okta from a “hold” rating to a “sell” rating in a research report on Friday. Canaccord Genuity reissued a “hold” rating and set a $27.00 target price on shares of Okta in a research report on Wednesday. Finally, Pacific Crest reissued an “outperform” rating and set a $32.00 target price on shares of Okta in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $29.50.
Okta (NASDAQ OKTA) traded down 1.85% during trading on Friday, hitting $26.49. 87,273 shares of the stock were exchanged. The firm’s market cap is $2.52 billion. The firm’s 50-day moving average is $23.96 and its 200 day moving average is $24.09. Okta has a 52 week low of $21.52 and a 52 week high of $28.25.
A number of large investors have recently modified their holdings of OKTA. Quantbot Technologies LP purchased a new stake in shares of Okta during the second quarter worth about $101,000. CI Investments Inc. purchased a new stake in shares of Okta during the second quarter worth about $171,000. American Century Companies Inc. purchased a new stake in shares of Okta during the second quarter worth about $201,000. Pacad Investment Ltd. purchased a new stake in shares of Okta during the second quarter worth about $207,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Okta during the second quarter worth about $219,000.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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