Okta Inc Reports Q1 Earnings: EPS $0.91, Revenue $765M
Okta Inc Reports Results for Quarter Ended April 30
Okta Inc (OKTA) reported adjusted quarterly earnings of 91 cents per share for the quarter ended April 30, beating the mean analyst estimate of 85 cents. This compares to 86 cents per share in the same quarter last year.
Revenue and Net Income
Revenue rose 11.2% year-over-year to $765.00 million, exceeding expectations of $751.88 million. The company reported net income of $74 million for the quarter.
Stock Performance and Analyst Ratings
Okta shares gained 13.7% in the quarter and are up 3.5% year-to-date. The average analyst rating is "buy," with 35 "strong buy" or "buy," 11 "hold," and 1 "sell" or "strong sell." The median 12-month price target is $100.00, about 10.5% above the last closing price of $89.50.
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