Analysts on Wall Street project that Okta (OKTA) will announce quarterly earnings of $0.75 per share in its forthcoming report, representing an increase of 11.9% year over year. Revenues are projected to reach $730 million, increasing 9.8% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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.
The consensus estimate for 'Revenue- Subscription' stands at $713.53 million. The estimate suggests a change of +9.6% year over year.
The consensus among analysts is that 'Revenue- Professional services and other' will reach $15.56 million. The estimate suggests a change of +11.1% year over year.
According to the collective judgment of analysts, 'Current remaining performance obligations (cRPO)' should come in at $2.26 billion. The estimate is in contrast to the year-ago figure of $2.06 billion.
Analysts expect 'Remaining performance obligations' to come in at $4.17 billion. Compared to the current estimate, the company reported $3.66 billion in the same quarter of the previous year.
Analysts forecast 'Gross margin- Subscription' to reach 83.0%. The estimate compares to the year-ago value of 78.0%.
It is projected by analysts that the 'Total Customers' will reach 20,526 . Compared to the current estimate, the company reported 19,450 in the same quarter of the previous year.
View all Key Company Metrics for Okta here>>>
Shares of Okta have demonstrated returns of -9.1% over the past month compared to the Zacks S&P 500 composite's -0.3% change. 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, Inc. (OKTA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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