Scotiabank Predicts Okta’s FY2025 Earnings (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA) – Research analysts at Scotiabank boosted their FY2025 earnings estimates for Okta in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will post earnings of $0.41 per share for the year, up from their prior estimate of $0.21. Scotiabank has a “Sector Perform” rating and a $96.00 price objective on the stock. The consensus estimate for Okta’s current full-year earnings is $0.40 per share.

OKTA has been the subject of a number of other reports. Guggenheim reiterated a “buy” rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Jefferies Financial Group dropped their target price on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.45.

Okta Price Performance

Shares of OKTA opened at $85.46 on Friday. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a 50 day moving average of $79.91 and a two-hundred day moving average of $82.75. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $14.64 billion, a price-to-earnings ratio of -244.17, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,797 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $217,131.11. Following the completion of the transaction, the insider now owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. The trade was a 10.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 607,129 shares of company stock worth $47,937,652. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Okta

Hedge funds have recently made changes to their positions in the stock. Caprock Group LLC raised its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after purchasing an additional 129 shares during the period. National Bank of Canada FI increased its position in shares of Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares in the last quarter. Bleakley Financial Group LLC raised its position in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after purchasing an additional 182 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.