OKTA Gears Up to Report Q2 Earnings: What's in the Cards?
Okta, Inc. OKTA is set to report second-quarter fiscal 2022 results on Sep 1.
For the fiscal second quarter, Okta anticipates non-GAAP net loss in the range of 35-36 cents per share. The Zacks Consensus Estimate for loss per share has remained steady at 35 cents over the past 30 days.
Okta expects revenues in the range of $295-$297 million, indicating growth rate of 47-48% from the year-ago period's reported figure. The Zacks Consensus Estimate for revenues is pegged at $296.2 million, indicating an increase of 47.8% from the year-ago quarter’s reported figure.
Okta’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, with the average earnings surprise being 425%.
Let’s see how things have shaped up for Okta prior to this announcement:
Factors to Consider
Okta’s second-quarter fiscal 2022 results are expected to reflect new product additions, continued adoption and increased use cases of identity solutions.
Okta Identity Cloud’s capability to consolidate and easily integrate existing applications without compromising security or stability is attracting customers. Okta products’ ability to automate process, secure data and reduce costs is also a positive.
The company’s partnerships with the likes of salesforce.com are helping it to win customers.
Okta’s entrance into privileged access management and identity governance and administration market, which is currently dominated by CyberArk and SailPoint , is expected to have expanded Okta’s prospects.
Okta’s Identity Governance solutions deliver self-service identity governance and administration for all users within the extended enterprise through a single control plane in order to meet compliance requirements without sacrificing speed in hybrid and multi-cloud environments.
Privileged access management seeks to protect data from being hacked within an organization while controlling who can view and change an organization’s critical systems.
The company has been winning contracts in the public sector, which are expected to have driven top-line growth in the to-be-reported quarter.
However, continued investments in research & development toward its solutions are expected to have kept this Zacks Rank #4 (Sell) company’s second-quarter fiscal 2022 margins under pressure.
You can see .
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.