Earnings Report: Here’s what to expect from Okta Stock Forecast, Price & News (NASDAQ:OKTA)

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Earnings results for Okta Stock Forecast, Price & News (NASDAQ:OKTA)

Okta, Inc. is expected* to report earnings on 08/27/2020 after market close. The report will be for the fiscal Quarter ending Jul 2020. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.34. The reported EPS for the same quarter last year was $-0.32.

Okta last posted its quarterly earnings data on May 28th, 2020. The reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.10. The company earned $182.86 million during the quarter, compared to the consensus estimate of $171.57 million. Its revenue was up 46.0% compared to the same quarter last year. Okta has generated ($1.39) earnings per share over the last year. Okta has confirmed that its next quarterly earnings report will be published on Thursday, August 27th, 2020.

Analyst Opinion on Okta Stock Forecast, Price & News (NASDAQ:OKTA)

18 Wall Street analysts have issued ratings and price targets for Okta in the last 12 months. Their average twelve-month price target is $185.94, predicting that the stock has a possible downside of 17.04%. The high price target for OKTA is $230.00 and the low price target for OKTA is $140.00. There are currently 6 hold ratings and 12 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Okta has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 12 buy ratings, 6 hold ratings, and no sell ratings. According to analysts’ consensus price target of $185.94, Okta has a forecasted downside of 17.0% from its current price of $224.14. Okta has been the subject of 13 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Okta Stock Forecast, Price & News (NASDAQ:OKTA)

Okta does not currently pay a dividend. Okta does not have a long track record of dividend growth.

Insiders buying/selling: Okta Stock Forecast, Price & News (NASDAQ:OKTA)

In the past three months, Okta insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $101,633,879.00 in company stock. Only 12.02% of the stock of Okta is held by insiders. 74.49% of the stock of Okta is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Okta Stock Forecast, Price & News (NASDAQ:OKTA

Earnings for Okta are expected to decrease in the coming year, from ($1.51) to ($1.54) per share. The P/E ratio of Okta is -125.22, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Okta is -125.22, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Okta has a P/B Ratio of 67.72. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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