We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Okta’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 53.07%.
Let’s see how things have shaped up for Okta prior to this announcement.
Factors to Consider
The company’s fourth-quarter fiscal 2023 results are expected to reflect the benefits of increased use cases of identity solutions.
Okta Identity Cloud’s capability to consolidate and easily integrate existing applications without compromising security or stability has been attracting customers. Okta products’ ability to automate processes, secure data and reduce costs has been another positive.
The adoption of Okta’s Auth0 solution is expected to have been strong in the to-be-reported quarter.
Demand for the company’s solutions has been strong due to digital transformation projects and the adoption of Zero Trust security. The momentum is expected to have continued in the to-be-reported quarter.
These factors are expected to have expanded the customer base in the fiscal fourth quarter. In the fiscal third quarter, Okta added 650 customers, bringing the total customer count to 17,050, up 22% year over year. Customers with more than $100K in Annual Contract Value increased 32% year over year.
However, Okta is expected to have faced challenges in sales integration, as well as heightened attrition. These factors are expected to have hurt its fiscal fourth-quarter prospects.
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 -11.81% and a Zacks Rank #2. 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:
Splunk is likely to release its fourth-quarter fiscal 2023 results on Mar 1. SPLK shares have declined 13.7% in the past year compared with the Zacks Computer & Technology sector’s decline of 19.8%.
AMC Entertainment (AMC - Free Report) currently has an Earnings ESP of +8.86% and a Zacks Rank #3.
AMC shares have lost 67.1% in the past year. AMC Entertainment is set to report its fourth-quarter 2022 results on Feb 28.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 39.9% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Image: Bigstock
OKTA Gears Up to Report Q4 Earnings: What's in the Cards?
Okta, Inc. (OKTA - Free Report) is set to report its fourth-quarter fiscal 2023 results on Mar 1.
For the fiscal fourth quarter, Okta anticipates non-GAAP earnings of 9-10 cents per share.
The Zacks Consensus Estimate for earnings has been unchanged at 9 cents per share over the past 30 days.
Revenues are expected to be $488-$490 million, indicating growth between 27% and 28% from the year-ago period’s reported figure.
The Zacks Consensus Estimate for revenues is pegged at $489 million, indicating an increase of 27.7% from the year-ago quarter’s reported figure.
Okta, Inc. Price and EPS Surprise
Okta, Inc. price-eps-surprise | Okta, Inc. Quote
Okta’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 53.07%.
Let’s see how things have shaped up for Okta prior to this announcement.
Factors to Consider
The company’s fourth-quarter fiscal 2023 results are expected to reflect the benefits of increased use cases of identity solutions.
Okta Identity Cloud’s capability to consolidate and easily integrate existing applications without compromising security or stability has been attracting customers. Okta products’ ability to automate processes, secure data and reduce costs has been another positive.
The adoption of Okta’s Auth0 solution is expected to have been strong in the to-be-reported quarter.
Demand for the company’s solutions has been strong due to digital transformation projects and the adoption of Zero Trust security. The momentum is expected to have continued in the to-be-reported quarter.
These factors are expected to have expanded the customer base in the fiscal fourth quarter. In the fiscal third quarter, Okta added 650 customers, bringing the total customer count to 17,050, up 22% year over year. Customers with more than $100K in Annual Contract Value increased 32% year over year.
However, Okta is expected to have faced challenges in sales integration, as well as heightened attrition. These factors are expected to have hurt its fiscal fourth-quarter prospects.
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 -11.81% and a Zacks Rank #2. 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:
Splunk has an Earnings ESP of +0.39% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Splunk is likely to release its fourth-quarter fiscal 2023 results on Mar 1. SPLK shares have declined 13.7% in the past year compared with the Zacks Computer & Technology sector’s decline of 19.8%.
AMC Entertainment (AMC - Free Report) currently has an Earnings ESP of +8.86% and a Zacks Rank #3.
AMC shares have lost 67.1% in the past year. AMC Entertainment is set to report its fourth-quarter 2022 results on Feb 28.
CrowdStrike (CRWD - Free Report) has an Earnings ESP of +2.33% and a Zacks Rank #3.
CRWD shares have declined 39.9% in the past year. CrowdStrike is set to report its fourth-quarter fiscal 2023 results on Mar 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.