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Okta (OKTA) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended January 2024, Okta (OKTA - Free Report) reported revenue of $605 million, up 18.6% over the same period last year. EPS came in at $0.63, compared to $0.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $586.25 million, representing a surprise of +3.20%. The company delivered an EPS surprise of +23.53%, with the consensus EPS estimate being $0.51.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Okta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Remaining performance obligations: $3.39 billion versus the seven-analyst average estimate of $3.20 billion.
Current remaining performance obligations (cRPO): $1.95 billion versus the six-analyst average estimate of $1.88 billion.
Total Customers: 18,950 versus the four-analyst average estimate of 19,116.
Revenue- Subscription: $591 million compared to the $571.33 million average estimate based on 12 analysts. The reported number represents a change of +19.4% year over year.
Revenue- Professional services and other: $14 million versus the 12-analyst average estimate of $14.83 million. The reported number represents a year-over-year change of -6.7%.
Shares of Okta have returned +1.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Okta (OKTA) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended January 2024, Okta (OKTA - Free Report) reported revenue of $605 million, up 18.6% over the same period last year. EPS came in at $0.63, compared to $0.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $586.25 million, representing a surprise of +3.20%. The company delivered an EPS surprise of +23.53%, with the consensus EPS estimate being $0.51.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Okta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Remaining performance obligations: $3.39 billion versus the seven-analyst average estimate of $3.20 billion.
- Current remaining performance obligations (cRPO): $1.95 billion versus the six-analyst average estimate of $1.88 billion.
- Total Customers: 18,950 versus the four-analyst average estimate of 19,116.
- Revenue- Subscription: $591 million compared to the $571.33 million average estimate based on 12 analysts. The reported number represents a change of +19.4% year over year.
- Revenue- Professional services and other: $14 million versus the 12-analyst average estimate of $14.83 million. The reported number represents a year-over-year change of -6.7%.
View all Key Company Metrics for Okta here>>>Shares of Okta have returned +1.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.