Okta Inc reports results for the quarter ended July 31

• Okta Inc OKTA reported adjusted quarterly earnings of 72 cents per share for the quarter ended July 31, higher than the same quarter last year when the company reported earnings per share of 31 cents. The average expectation of 36 analysts for the quarter was earnings of 61 cents per share. Wall Street expected results between 60 and 73 cents per share.

• Revenue increased 16.2% year-on-year to $646.00 million; analysts had expected $632.94 million.

• Okta Inc. reported earnings per share for the quarter was 15 cents.

• The company reported quarterly net income of $29 million.

• Okta Inc. shares rose 3.6% this quarter and are up 7.1% year to date.

FORECAST CHANGES

• Analysts’ average earnings estimate had risen by about 8.3 percent over the past three months.

• There have been no negative revisions to earnings forecasts in the last 30 days

RECOMMENDATIONS

• The current average analyst rating of the stock is “Buy” and the breakdown of recommendations is as follows: 20 “Strong Buy” or “Buy”, 21 “Hold” and no “Sell” or “Strong Sell”.

• The average consensus recommendation for the IT services and consulting peer group is also “Buy.”

Wall Street’s median 12-month price target for Okta Inc is 113.05

This summary was machine-generated from LSEG data as of August 28 at 21:01 UTC. All figures in US dollars unless otherwise stated. (For questions about the data in this report, contact [email protected]. For other questions or feedback, contact [email protected])