What is Scotiabank’s Estimate for Okta FY2025 Earnings?

by · The Markets Daily

Okta, Inc. (NASDAQ:OKTA – Free Report) – Stock analysts at Scotiabank raised their FY2025 earnings per share estimates for Okta in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville now forecasts that the company will earn $0.41 per share for the year, up from their previous estimate of $0.21. Scotiabank currently has a “Sector Perform” rating and a $96.00 target price on the stock. The consensus estimate for Okta’s current full-year earnings is $0.40 per share.

Other analysts also recently issued research reports about the company. KeyCorp raised Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective on the stock in a research note on Thursday, December 19th. Stifel Nicolaus lifted their price objective on shares of 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 reiterated an “outperform” rating and set a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. Canaccord Genuity Group raised their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC increased their price target on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $104.45.

Read Our Latest Analysis on OKTA

Okta Trading Up 0.9 %

Okta stock opened at $85.46 on Friday. Okta has a 12-month low of $70.56 and a 12-month high of $114.50. The stock has a market capitalization of $14.64 billion, a PE ratio of -244.17, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. The firm has a 50 day simple moving average of $79.91 and a 200-day simple moving average of $82.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders have sold 607,129 shares of company stock valued at $47,937,652 over the last three months. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after buying an additional 1,227,890 shares during the period. Eminence Capital LP raised its holdings in shares of Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Primecap Management Co. CA lifted its position in Okta by 0.8% in the 2nd quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock valued at $126,955,000 after acquiring an additional 10,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Company Profile

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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.

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