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For the fiscal fourth quarter, Okta anticipates non-GAAP net loss in the range of 24-25 cents per share. The Zacks Consensus Estimate for loss has remained steady at 24 cents per share over the past 30 days.
Okta expects revenues in the range of $358-$360 million, indicating growth of 53% from the year-ago period’s reported figure. The Zacks Consensus Estimate for revenues is pegged at $359.38 million, indicating an increase of 53.1% from the year-ago quarter’s reported figure.
Okta’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average earnings surprise being 222.04%.
Let’s see how things have shaped up for Okta prior to this announcement:
Factors to Consider
Okta’s fourth-quarter fiscal 2022 results are expected to reflect benefits of new product additions, continued adoption and increased use cases of identity solutions.
Okta Identity Cloud’s capability to consolidate and easily integrate existing applications without compromising security or stability is attracting customers. Okta products’ ability to automate process, secure data and reduce costs is also a positive.
Adoption of Okta’s Auth0 solution is expected to have remained strong in the to-be-reported quarter. In third-quarter fiscal 2022, the company added 200 new Auth0 customers.
The company has been winning contracts in the public sector, which are expected to have driven top-line growth in the to-be-reported quarter.
However, continued investments in research & development are expected to have kept Okta’s fourth-quarter fiscal 2022 margins under pressure.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Okta has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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OKTA Gears Up to Report Q4 Earnings: What's in the Cards?
Okta, Inc. (OKTA - Free Report) is set to report fourth-quarter fiscal 2022 results on Mar 2.
For the fiscal fourth quarter, Okta anticipates non-GAAP net loss in the range of 24-25 cents per share. The Zacks Consensus Estimate for loss has remained steady at 24 cents per share over the past 30 days.
Okta expects revenues in the range of $358-$360 million, indicating growth of 53% from the year-ago period’s reported figure. The Zacks Consensus Estimate for revenues is pegged at $359.38 million, indicating an increase of 53.1% from the year-ago quarter’s reported figure.
Okta’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average earnings surprise being 222.04%.
Okta, Inc. Price and EPS Surprise
Okta, Inc. price-eps-surprise | Okta, Inc. Quote
Let’s see how things have shaped up for Okta prior to this announcement:
Factors to Consider
Okta’s fourth-quarter fiscal 2022 results are expected to reflect benefits of new product additions, continued adoption and increased use cases of identity solutions.
Okta Identity Cloud’s capability to consolidate and easily integrate existing applications without compromising security or stability is attracting customers. Okta products’ ability to automate process, secure data and reduce costs is also a positive.
Adoption of Okta’s Auth0 solution is expected to have remained strong in the to-be-reported quarter. In third-quarter fiscal 2022, the company added 200 new Auth0 customers.
The company has been winning contracts in the public sector, which are expected to have driven top-line growth in the to-be-reported quarter.
However, continued investments in research & development are expected to have kept Okta’s fourth-quarter fiscal 2022 margins under pressure.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Okta has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Hayward Holdings (HAYW - Free Report) has an Earnings ESP of +43.51% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
HAYW shares are down 32.3% year to date compared with the Computer & Technology sector’s return of 12.9%.
LiveVox Holdings has an Earnings ESP of +21.95% and a Zacks Rank of 3.
LiveVox shares are down 4.9% year to date.
Bumble (BMBL - Free Report) has an Earnings ESP of +14.29% and a Zacks Rank of 3.
BMBL shares have declined 22.1% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.