In its upcoming report, Okta (OKTA) is predicted by Wall Street analysts to post quarterly earnings of $0.85 per share, reflecting an increase of 9% compared to the same period last year. Revenues are forecasted to be $749.1 million, representing a year-over-year increase of 9.8%.
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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Okta metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Subscription' will reach $733.04 million. The estimate indicates a change of +9.4% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Professional services and other' will reach $15.27 million. The estimate suggests a change of +27.2% year over year.
Analysts' assessment points toward 'Current remaining performance obligations (cRPO)' reaching $2.45 billion. The estimate is in contrast to the year-ago figure of $2.25 billion.
Analysts predict that the 'Remaining performance obligations' will reach $4.65 billion. The estimate is in contrast to the year-ago figure of $4.22 billion.
The consensus estimate for 'Total Customers' stands at 20,672 . Compared to the current estimate, the company reported 19,650 in the same quarter of the previous year.
View all Key Company Metrics for Okta here>>>
Okta shares have witnessed a change of -12.2% in the past month, in contrast to the Zacks S&P 500 composite's -0.5% move. With a Zacks Rank #1 (Strong Buy), OKTA is expected outperform the overall market performance in the near term. 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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