Okta slips after forecast fails to impress

Okta

03/12/2025 10:44

** 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))