Okta's Q4 Adjusted EPS Jumps to $0.90 on 11.6% Revenue Growth; Provides Strong Q1 Guidance
OKTA is trading near its 52-week low of $68.77 (6.2% above the low) on elevated volume (2.1× avg).
Summary
Okta, Inc. announced a significant advance in its Q4 bottom line, reporting GAAP earnings of $63 million ($0.35 per share) and adjusted earnings of $167 million ($0.90 per share), a substantial increase from the prior year. The company also saw an 11.6% rise in revenue to $761 million. This comprehensive earnings report, which includes Q4 actuals and next quarter guidance (EPS $0.84-$0.86, revenue $749M-$753M), provides new, specific details beyond the full-year revenue guidance issued earlier today. The strong financial performance is a positive indicator for the company and is likely to be well-received by the market. Traders will now monitor the company's ability to achieve its Q1 guidance.
At the time of this announcement, OKTA was trading at $73.04 on NASDAQ in the Technology sector, with a market capitalization of approximately $12.7B. The 52-week trading range was $68.77 to $127.57. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.