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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.


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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