For the three months ended July, Okta incurred an adjusted loss of -$16 million, or -10 cents a share much narrower than the loss of 31 to 32 cents a share it had expected.
The company’s revenue rose +43% year-over-year to $452 million, well above the company’s forecast range of $428 million to $430 million.
Okta had $2.79 billion in remaining performance obligations as of quarter-end, up 25% from a year ago.
For the three months to end in October, Okta expects revenue of $463 million to $465 million, (between +32% and +33%), and an adjusted loss in the range of -24 to -25 cents a share. The Wall Street consensus expectations were $464 million in revenue and a loss of -28 cents a share.
Looking further ahead, Okta now projects revenue of $1.812 billion to $1.820 billion for the January 2023 fiscal year, higher than prior guidance of $1.805 billion to $1.815 billion. It expects non-GAAP loss of 70 to 73 cents a shar, narrower than its previous anticipation of $1.11 to $1.14 a share.
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where OKTA declined for three days, in of 279 cases, the price declined further within the following month. The odds of a continued downward trend are .
OKTA moved below its 50-day moving average on April 15, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for OKTA crossed bearishly below the 50-day moving average on April 18, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The Aroon Indicator for OKTA entered a downward trend on April 24, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where OKTA's RSI Oscillator exited the oversold zone, of 26 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OKTA advanced for three days, in of 345 cases, the price rose further within the following month. The odds of a continued upward trend are .
OKTA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. OKTA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.942) is normal, around the industry mean (29.911). P/E Ratio (0.000) is within average values for comparable stocks, (155.220). Projected Growth (PEG Ratio) (1.824) is also within normal values, averaging (2.725). Dividend Yield (0.000) settles around the average of (0.081) among similar stocks. P/S Ratio (7.485) is also within normal values, averaging (55.249).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. OKTA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of an enterprise-grade identity management services
Industry PackagedSoftware