In the latest quarter, 15% of Okta's bookings came from new products, as the company looks to dominate identity management.
Okta (OKTA) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.44 per share a year ago.
Okta stock surged on Q3 earnings and revenue that topped consensus estimates while revenue guidance came in above views. The post Cybersecurity Firm Okta Posts Q3 Earnings, Revenue Beat; Shares Jump appeared first on Investor's Business Daily.
Okta shares popped on in extended trading on Tuesday after the company reported third-quarter results and that beat Wall Street's estimates. Revenue increased 14% from $569 million a year ago.
Okta's third-quarter fiscal 2025 results are expected to benefit from an expanding clientele amid a challenging macroeconomic environment.
JPMorgan lowered the firm's price target on Okta to $85 from $105 and keeps a Neutral rating on the shares as part of an earnings preview. The firm says growth deceleration into single digit territory remains a concern as macro factors continue to weigh on the company's results. JPMorgan expects Okta will give a first look into fiscal 2026 growth expectations this quarter, and it sees risk the guidance could reflect single digit growth next year, below current consensus levels. JPMorgan reduced estimates to reflect recent channel conversations and a longer than expected duration of recovery.
Besides Wall Street's top -and-bottom-line estimates for Okta (OKTA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended October 2024.
Okta (OKTA) closed the most recent trading day at $76.50, moving -0.09% from the previous trading session.
Zacks.com users have recently been watching Okta (OKTA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Gaining adoption of OKTA's Identity Threat Protection solution boosts prospects amid a challenging macroeconomic environment and stretched valuation.
2025 needs to be the year identity providers go all in on improving every aspect of software quality and security, including red teaming.
Okta Inc (NASDAQ:OKTA) stock is 1.9% lower ahead of the opening bell, looking to start today's session around the $77 mark on the heels of a sour analyst note.