Advertisement|Remove ads.

Shares of Okta Inc. (OKTA) edged up in after-market trading on Friday ahead of the company’s fourth-quarter earnings.
According to The Fly, analysts expect Okta to post healthy fourth-quarter (Q4) results on Monday, driven by demand improvements and an order book worth $2.2 billion, allowing the company to balance mixed channel checks.
Wall Street expects Okta to post earnings per share (EPS) of $0.74, growing from $0.63 a year earlier. The company’s revenue is expected to rise to $668.91 million from $605 million.
Advertisement|Remove ads.
For the fiscal year 2024, Okta is expected to post an EPS of $2.77, growing 73% year-on-year. Revenue is expected to rise 15% YoY to $2.6 billion.
Data shows Okta has beaten estimates in each of the past four quarters.
Okta stock received a slew of price target hikes as analysts geared up for the company’s Q4 results.
Advertisement|Remove ads.
Barclays noted that there is upside potential for Okta’s Q4 performance on the back of the remaining order book of $2.2 billion, allowing the company to balance out the mixed channel checks and seasonal nature of orders.
Mizuho noted that with markets in a “risk on” mode, there is an uptick in software sentiment and an improvement in demand patterns in other categories, such as data analytics and software-as-a-service (SaaS.)
On Stocktwits, retail sentiment around the Okta stock soared, entering the ‘extremely bullish’ (79/100) territory in the run-up to earnings. Message volume saw an uptick as well.
Advertisement|Remove ads.

Okta’s shares have gained nearly 15% year-to-date, while their six-month returns stood at 19%.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Advertisement|Remove ads.
Comments posted here will also appear on symbol pages.