/Okta Earnings Guidance Misses Consensus Estimates, Shares Fall

Okta Earnings Guidance Misses Consensus Estimates, Shares Fall

Okta earnings for the fourth quarter, reported late Thursday, beat analyst estimates as the cybersecurity firm reported a smaller loss than a year earlier. Okta stock fell in after-hours trading though, as the company forecast a higher-than-expected loss in fiscal 2020.




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The cybersecurity firm said it lost 4 cents a share in adjusted earnings, narrowing its loss from a year ago, with revenue rising 50% to $115 million. A year earlier, Okta (OKTA) lost 10 cents a share on sales of $78 million.

Analysts expected Okta to report an 8-cent loss per share on sales of $108 million for the period ended Jan. 31.

For fiscal 2020, Okta said it expects a loss in a range of 48 cents to 53 cents a share. Analysts had projected a full-year loss of 22 cents a share.

Okta stock fell 8.2% to 74.59 in after-hours trading on the stock market today. San Francisco-based Okta provides identity management services for businesses.

Okta Forecasts Higher-Than-Expected Loss

For the April quarter, Okta said it expects a loss of 21 cents to 22 cents a share. Analysts had modeled a per-share loss of 12 cents.

Okta forecast revenue of $116.5 million at its midpoint of guidance, topping estimates of $111.7 million.

Hackers often target employees or management with administrative access to company computer systems. Okta’s software monitors and manages privileged accounts.

Founded in 2009, San Francisco-based Okta competes with products from Microsoft (MSFT) as well as Ping Identity and Centrify.

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