BUZZ-Okta slips after forecast fails to impress

Reuters
Dec 03
BUZZ-<a href="https://laohu8.com/S/OKTA">Okta</a> slips after forecast fails to impress

** Shares of identity management firm Okta OKTA.O down 3.2% at $79.25 premarket after co's outlook fails to impress investors

** Q4 revenue expected between $748 mln and $750 mln, above analysts' estimates of $737.9 mln - data compiled by LSEG

** Sees Q4 adj. EPS in the range of 84-85 cents, largely in-line with estimated 84 cents

** At least four brokerages cut their PT on stock following results, outlook

** Scotiabank says the Q4 guide was "good, but lacked whizz, bang and sparkle to get investors to return" to the stock

** "We believe the magnitude of beats could shrink as management guides closer to the pin" - brokerage RBC

** Co also withheld its outlook for FY27, further dampening sentiment

** Average rating of 45 analysts is a "buy"; median PT at $116 - LSEG

** Shares up 3.9% YTD, as of last close

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10