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Stay Ahead of the Game With Okta (OKTA) Q2 Earnings: Wall Street's Insights on Key Metrics
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Wall Street analysts forecast that Okta (OKTA - Free Report) will report quarterly earnings of $0.61 per share in its upcoming release, pointing to a year-over-year increase of 96.8%. It is anticipated that revenues will amount to $632.24 million, exhibiting an increase of 13.7% compared to the year-ago quarter.
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 release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
That said, let's delve into the average estimates of some Okta metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Revenue- Subscription' will reach $618.50 million. The estimate indicates a year-over-year change of +14.1%.
The combined assessment of analysts suggests that 'Revenue- Professional services and other' will likely reach $13.69 million. The estimate indicates a change of -2.2% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Current remaining performance obligations (cRPO)' of $1.96 billion. Compared to the current estimate, the company reported $1.77 billion in the same quarter of the previous year.
Analysts forecast 'Remaining performance obligations' to reach $3.42 billion. Compared to the current estimate, the company reported $3.03 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Gross margin- Subscription' reaching 78.2%. Compared to the present estimate, the company reported 77% in the same quarter last year.
Over the past month, Okta shares have recorded returns of +4.3% versus the Zacks S&P 500 composite's +0.3% change. Based on its Zacks Rank #3 (Hold), OKTA will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Stay Ahead of the Game With Okta (OKTA) Q2 Earnings: Wall Street's Insights on Key Metrics
Wall Street analysts forecast that Okta (OKTA - Free Report) will report quarterly earnings of $0.61 per share in its upcoming release, pointing to a year-over-year increase of 96.8%. It is anticipated that revenues will amount to $632.24 million, exhibiting an increase of 13.7% compared to the year-ago quarter.
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 release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
That said, let's delve into the average estimates of some Okta metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Revenue- Subscription' will reach $618.50 million. The estimate indicates a year-over-year change of +14.1%.
The combined assessment of analysts suggests that 'Revenue- Professional services and other' will likely reach $13.69 million. The estimate indicates a change of -2.2% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Current remaining performance obligations (cRPO)' of $1.96 billion. Compared to the current estimate, the company reported $1.77 billion in the same quarter of the previous year.
Analysts forecast 'Remaining performance obligations' to reach $3.42 billion. Compared to the current estimate, the company reported $3.03 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Gross margin- Subscription' reaching 78.2%. Compared to the present estimate, the company reported 77% in the same quarter last year.
View all Key Company Metrics for Okta here>>>
Over the past month, Okta shares have recorded returns of +4.3% versus the Zacks S&P 500 composite's +0.3% change. Based on its Zacks Rank #3 (Hold), OKTA will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>