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COMP:OKT, Dec 11, 04:47 UTC

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Thursday, December 06


News

Boeing, Citi fall; Hewlett Packard Enterprise, Okta rise

OKT GOOG +3 more OKT GOOG GOOGL HPE BA

NEW YORK (AP) -- Stocks that moved substantially or traded heavily Thursday:. Exporters' stocks fell as the arrest of a senior Chinese technology executive threatened to worsen U.S.-China trade tensions. Martin Anstice resigned as CEO as the semiconductor equipment maker investigates allegations of misconduct against him. The children's clothing and accessories chain forecast earnings for the current quarter below what analysts were expecting.

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Why Okta Stock Jumped Thursday

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Surging revenue and an optimistic outlook from management have investors looking up. Shares of enterprise identity-management company Okta(NASDAQ:OKTA) impressed investors on Thursday with better-than-expected third-quarter results. The news sent shares higher, with the stock rising as much as 15.2%. As of 1:43 p.m. EST, the stock was up 12.8%. So what. The company boosted its full-year fiscal 2019 revenue outlook, guiding for revenue between $391 million and $392 million, representing 52% to 53% year-over-year growth.

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Okta shares surge on better-than-expected quarterly results and optimistic guidance

OKT

Okta shares surge on better-than-expected quarterly results and optimistic guidance. Okta shares surged 14 percent on Thursday after the cloud software company reported a narrower loss than analysts' expected and raised its revenue guidance for the year. The stock rose $8.57 to $69.22 as of mid-day, bringing its gains for the year to 170 percent. Since going public in April 2017, Okta has been one of the best performers among a growing number of cloud-based software providers that are almost all outperforming the broader market. Revenue climbed 58 percent to $105.6 million, also topping estimates and the company's own guidance. For the full year of fiscal 2019, Okta said it now expects revenue of $391 million to $392 million, an increase over its prior expectation for sales for $372 million to $375 million.

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Okta (OKTA) Q3 Earnings and Revenues Surpass Estimates

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The company’s ability to secure identities and digital assets across a variety of users and technologies helped it win customers.Additionally, Okta Identity Cloud’s capability to consolidate all customer applications to a single-identity service without compromising security or stability is attracting customers. Companies like Deloitte and VMware VMW along with the U.S. Department of State chose Okta’s identity solutions in third-quarter fiscal 2019.Moreover, momentum in cloud, digital transformation and security is helping Okta retain long-time customers like Adobe ADBE, Experian and Allergan AGN and attract new customers like Major League Baseball.Further, customers with more than $100,000 annual recurring revenues increased 55% year over year to 937 due to increase in up sell activities. During the quarter, Okta added 100 net new customers with over $100,000 annual recurring revenues.Dollar based retention rate for the trailing 12 months ended Oct 31 was 120%. Gross margin expanded 380 basis points (bps) to 75.8%.Non GAAP research and development expenses increased 52% year over year to $21.3 million due to significant investments in Okta identity platform and integration network.Additionally, non GAAP sales and marketing and general and administrative expenses increased 16.1% and 47.3% year over year to $50.7 million and $14.5 million, respectively. Therefore, total non GAAP operating expenses increased 28.1% year over year to $86.5 million.Non GAAP operating loss was $6.5 million, narrower than the year-ago quarter’s loss of $19.4 million.Balance Sheet and Cash FlowOkta had $546 million of cash, cash equivalents and short-term investments as of Oct 31, 2018 compared with $536.3 million sequentially.Cash flow from operations was $6.4 million.

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Okta (OKTA) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS – PressOracle

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The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.24, Fidelity Earnings reports. Okta updated its FY 2019 guidance to $-0.37–0.36 EPS and its Q4 2019 guidance to $-0.09–0.08 EPS. Monness Crespi & Hardt upped their price target on shares of Okta from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. In other Okta news, Director Benjamin A. Horowitz sold 270,465 shares of the firm’s stock in a transaction on Friday, September 14th.

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Wednesday, December 05


News

Okta (OKTA) Releases Q4 2019 Earnings Guidance – XNewsPress

OKT

Okta (NASDAQ:OKTA) issued an update on its fourth quarter 2019 earnings guidance on Wednesday morning. The company issued revenue guidance of $107-108 million, compared to the consensus revenue estimate of $99.87 million.Okta also updated its FY 2019 guidance to $-0.37–0.36 EPS. 2,258,702 shares of the company’s stock were exchanged, compared to its average volume of 1,971,440. Finally, Needham & Company LLC raised their price target on shares of Okta from $58.00 to $75.00 and gave the company a buy rating in a research note on Friday, September 7th.

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Okta quarterly results outlook top Wall Street view

OKT

Okta Inc. okta-6.51% reported third-quarter results and forecast an outlook that topped Wall Street estimates late Wednesday, which may provide a boost to shares on Thursday when markets re-open. The company reported a third-quarter loss of $29.5 million, or 27 cents a share, compared with a loss of $33.1 million, or 35 cents a share, in the year-ago period. Analysts surveyed by FactSet had forecast a loss of 11 cents a share on revenue of $96.9 million. For the fourth quarter, Okta expects an adjusted loss of 9 cents to 8 cents a share on revenue of $107 million to $108 million, while analysts had forecast a loss of 11 cents a share on revenue of $99.9 million. Okta shares, which are up 137% for the year, last closed down 6.5% at $60.65, compared with a 3.2% drop in the S&P 500 index spx-3.24% on Tuesday, and U.S. stock markets were closed Wednesday in honor of the funeral of 41st President George H.W.

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Okta: Fiscal 3Q Earnings Snapshot

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SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $29.5 million in its fiscal third quarter. Losses, adjusted for stock option expense and amortization costs, came to 4 cents per share. Seven analysts surveyed by Zacks expected $96.8 million. For the current quarter ending in January, Okta expects its results to range from a loss of 9 cents per share to a loss of 8 cents per share. In the final minutes of trading on Wednesday, shares hit $60.65, more than doubling in the last 12 months.

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Albertsons Implements Okta for Customer Identity

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SAN FRANCISCO--(BUSINESS WIRE)--Okta, Inc. (NASDAQ:OKTA), the leading independent provider of identity for the enterprise, today announced that Albertsons Companies successfully implemented the Okta Identity Cloud to support its digital transformation. “That’s why long-established brands like Albertsons are leveraging the Okta Identity Cloud to securely connect their customers to those technologies in a consistent and reliable way. The Okta Identity Cloud will serve as the first step of online interaction between Albertsons and its customers, powering user registration and authentication for Albertsons’ website and mobile application. That’s why we deployed Okta’s Customer Identity products to support our loyalty, rewards and eCommerce strategy — with the ultimate aim of better serving the more than 30 million customers we interact with every week,” said Ramiya Iyer, GVP of IT, Digital and Marketing, Albertsons.

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Okta Announces Record Third Quarter Fiscal 2019 Financial Results

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SAN FRANCISCO--(BUSINESS WIRE)--Okta, Inc. (NASDAQ: OKTA), the leading independent provider of identity for the enterprise, today announced financial results for its third fiscal quarter ended October 31, 2018. We saw 55% growth in customers with over $100,000 annual recurring revenue, representing a record 100 net new adds in a quarter,” said Todd McKinnon, CEO of Okta. Certain of these non-GAAP financial measures exclude stock-based compensation, amortization of debt discount, charitable contributions, and amortization of intangible assets. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the market for our products may develop more slowly than expected or than it has in the past; quarterly and annual operating results may fluctuate more than expected; variations related to our revenue recognition may cause significant fluctuations in our results of operations and cash flows; assertions by third parties that we violate their intellectual property rights could substantially harm our business; any unreleased products, features or functionality referenced in this or other presentations, press releases or public statements are not currently available and may not be delivered on time or at all; a network or data security incident that allows unauthorized access to our network or data or our customers’ data could harm our reputation, create additional liability and adversely impact our financial results; the risk of interruptions or performance problems, including a service outage, associated with our technology; intense competition in our market; weakened global economic conditions may adversely affect our industry; the risk of losing key employees; changes in foreign exchange rates; general political or destabilizing events, including war, conflict or acts of terrorism; our ability to successfully identify and integrate acquisitions, strategic investments, partnerships or alliances; our ability to pay off our convertible senior notes when due; and other risks and uncertainties.

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