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Okta (OKTA) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
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The upcoming report from Okta (OKTA - Free Report) is expected to reveal quarterly earnings of $0.85 per share, indicating a decline of 1.2% compared to the year-ago period. Analysts forecast revenues of $751.34 million, representing an increase of 9.2% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. 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 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.
Given this perspective, it's time to examine the average forecasts of specific Okta metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Subscription' reaching $738.10 million. The estimate indicates a change of +9.7% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Professional services and other' at $13.09 million. The estimate indicates a year-over-year change of -12.8%.
Analysts predict that the 'Current remaining performance obligations (cRPO)' will reach $2.45 billion. The estimate is in contrast to the year-ago figure of $2.23 billion.
The consensus among analysts is that 'Remaining performance obligations' will reach $4.62 billion. Compared to the present estimate, the company reported $4.08 billion in the same quarter last year.
According to the collective judgment of analysts, 'Gross margin- Subscription' should come in at 80.1%. Compared to the current estimate, the company reported 80.0% in the same quarter of the previous year.
The consensus estimate for 'Total Customers' stands at 20,791 . Compared to the current estimate, the company reported 20,000 in the same quarter of the previous year.
Shares of Okta have experienced a change of +17.6% in the past month compared to the +5.5% 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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Okta (OKTA) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
The upcoming report from Okta (OKTA - Free Report) is expected to reveal quarterly earnings of $0.85 per share, indicating a decline of 1.2% compared to the year-ago period. Analysts forecast revenues of $751.34 million, representing an increase of 9.2% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. 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 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.
Given this perspective, it's time to examine the average forecasts of specific Okta metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Subscription' reaching $738.10 million. The estimate indicates a change of +9.7% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Professional services and other' at $13.09 million. The estimate indicates a year-over-year change of -12.8%.
Analysts predict that the 'Current remaining performance obligations (cRPO)' will reach $2.45 billion. The estimate is in contrast to the year-ago figure of $2.23 billion.
The consensus among analysts is that 'Remaining performance obligations' will reach $4.62 billion. Compared to the present estimate, the company reported $4.08 billion in the same quarter last year.
According to the collective judgment of analysts, 'Gross margin- Subscription' should come in at 80.1%. Compared to the current estimate, the company reported 80.0% in the same quarter of the previous year.
The consensus estimate for 'Total Customers' stands at 20,791 . Compared to the current estimate, the company reported 20,000 in the same quarter of the previous year.
View all Key Company Metrics for Okta here>>>Shares of Okta have experienced a change of +17.6% in the past month compared to the +5.5% 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 >>>> .