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Insights Into Okta (OKTA) Q1: Wall Street Projections for Key Metrics

Wall Street analysts expect Okta (OKTA) to post quarterly earnings of $0.54 per share in its upcoming report, which indicates a year-over-year increase of 145.5%. Revenues are expected to be $604.33 million, up 16.7% from the year-ago quarter.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

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That said, let's delve into the average estimates of some Okta metrics that Wall Street analysts commonly model and monitor.

The combined assessment of analysts suggests that 'Revenue- Subscription' will likely reach $586.19 million. The estimate indicates a year-over-year change of +16.5%.

According to the collective judgment of analysts, 'Revenue- Professional services and other' should come in at $15.07 million. The estimate indicates a change of +0.5% from the prior-year quarter.

Analysts forecast 'Gross margin- Subscription' to reach 82.9%. The estimate is in contrast to the year-ago figure of 76%.

The consensus among analysts is that 'Current remaining performance obligations (cRPO)' will reach $1.92 billion. Compared to the present estimate, the company reported $1.70 billion in the same quarter last year.

The consensus estimate for 'Remaining performance obligations' stands at $3.33 billion. The estimate compares to the year-ago value of $2.94 billion.

View all Key Company Metrics for Okta here>>>

Shares of Okta have experienced a change of +7.6% in the past month compared to the +6.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), OKTA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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