Okta Inc (NASDAQ:OKTA) on Wednesday reported upbeat fourth-quarter financial results, but issued weak forecast for the first quarter.
Okta posted revenue of $761 million for the fourth quarter, beating analyst estimates of $748.79 million, according to Benzinga Pro. Fourth-quarter adjusted earnings came in at 90 cents per share, beating expectations of 85 cents per share.
"AI is redefining the future of software and creating a critical need to secure AI agents, a challenge Okta was built to solve," said Todd McKinnon, co-founder and CEO of Okta.
Okta expects first-quarter revenue of $749 million to $753 million versus estimates of $754.69 million. The company anticipates first-quarter adjusted earnings of 84 to 86 cents per share versus estimates of 87 cents per share.
Okta sees fiscal 2027 revenue of $3.17 billion to $3.19 billion versus estimates of approximately $3.17 billion. Okta expects full-year adjusted earnings of $3.74 to $3.82 per share versus estimates of $3.68 per share.
Okta shares slipped 0.1% to $71.70 in the pre-market trading session.
These analysts made changes to their price targets on Okta following earnings announcement.
- Needham analyst Mike Cikos maintained Okta with a Buy and lowered the price target from $110 to $90.
- Stifel analyst Adam Borg maintained the stock with a Buy and lowered the price target from $121 to $92.
- Morgan Stanley analyst Simeon Gutman maintained Okta with an Overweight rating and cut the price target from $110 to $101.
- Keybanc analyst Eric Heath maintained the stock with an Overweight rating and lowered the price target from $115 to $100.
Considering buying OKTA stock? Here’s what analysts think:
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