We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Insights Into Okta (OKTA) Q3: Wall Street Projections for Key Metrics
Read MoreHide Full Article
In its upcoming report, Okta (OKTA - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.57 per share, reflecting an increase of 29.6% compared to the same period last year. Revenues are forecasted to be $649.42 million, representing a year-over-year increase of 11.2%.
Over the last 30 days, there has been an upward revision of 2.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Okta metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Revenue- Subscription' to come in at $634.95 million. The estimate points to a change of +11.6% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- Professional services and other' reaching $14.26 million. The estimate points to a change of -5% from the year-ago quarter.
It is projected by analysts that the 'Current remaining performance obligations (cRPO)' will reach $1.99 billion. Compared to the present estimate, the company reported $1.83 billion in the same quarter last year.
The consensus estimate for 'Remaining performance obligations' stands at $3.51 billion. The estimate is in contrast to the year-ago figure of $3.07 billion.
The combined assessment of analysts suggests that 'Total Customers' will likely reach 19,608. The estimate is in contrast to the year-ago figure of 18,800.
According to the collective judgment of analysts, 'Gross margin- Subscription' should come in at 77.7%. The estimate is in contrast to the year-ago figure of 78%.
The consensus among analysts is that 'TTM Dollar Based Net Retention Rate' will reach 110.0%. The estimate compares to the year-ago value of 115%.
Shares of Okta have experienced a change of +4.1% in the past month compared to the +3.8% 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 >>>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Insights Into Okta (OKTA) Q3: Wall Street Projections for Key Metrics
In its upcoming report, Okta (OKTA - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.57 per share, reflecting an increase of 29.6% compared to the same period last year. Revenues are forecasted to be $649.42 million, representing a year-over-year increase of 11.2%.
Over the last 30 days, there has been an upward revision of 2.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Okta metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Revenue- Subscription' to come in at $634.95 million. The estimate points to a change of +11.6% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- Professional services and other' reaching $14.26 million. The estimate points to a change of -5% from the year-ago quarter.
It is projected by analysts that the 'Current remaining performance obligations (cRPO)' will reach $1.99 billion. Compared to the present estimate, the company reported $1.83 billion in the same quarter last year.
The consensus estimate for 'Remaining performance obligations' stands at $3.51 billion. The estimate is in contrast to the year-ago figure of $3.07 billion.
The combined assessment of analysts suggests that 'Total Customers' will likely reach 19,608. The estimate is in contrast to the year-ago figure of 18,800.
According to the collective judgment of analysts, 'Gross margin- Subscription' should come in at 77.7%. The estimate is in contrast to the year-ago figure of 78%.
The consensus among analysts is that 'TTM Dollar Based Net Retention Rate' will reach 110.0%. The estimate compares to the year-ago value of 115%.
View all Key Company Metrics for Okta here>>>
Shares of Okta have experienced a change of +4.1% in the past month compared to the +3.8% 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 >>>>