Insights Into Okta (OKTA) Q3: Wall Street Projections for Key Metrics

In its upcoming report, Okta (OKTA) is predicted by Wall Street analysts to post quarterly earnings of $0.57 per share, reflecting an increase of 29.6% compared to the same period last year. Revenues are forecasted to be $649.42 million, representing a year-over-year increase of 11.2%.Over the last 30 days, there has been an upward revision of 2.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.Bearing this in mind, let's now explore the average estimates of specific Okta metrics that are commonly monitored and projected by Wall Street analysts.Analysts expect 'Revenue- Subscription' to come in at $634.95 million. The estimate points to a change of +11.6% from the year-ago quarter.Analysts' assessment points toward 'Revenue- Professional services and other' reaching $14.26 million. The estimate points to a change of -5% from the year-ago quarter.It is projected by analysts that the 'Current remaining performance obligations (cRPO)' will reach $1.99 billion. Compared to the present estimate, the company reported $1.83 billion in the same quarter last year.The consensus estimate for 'Remaining performance obligations' stands at $3.51 billion. The estimate is in contrast to the year-ago figure of $3.07 billion.The combined assessment of analysts suggests that 'Total Customers' will likely reach 19,608. The estimate is in contrast to the year-ago figure of 18,800.According to the collective judgment of analysts, 'Gross margin- Subscription' should come in at 77.7%. The estimate is in contrast to the year-ago figure of 78%.The consensus among analysts is that 'TTM Dollar Based Net Retention Rate' will reach 110.0%. The estimate compares to the year-ago value of 115%.View all Key Company Metrics for Okta here>>>Shares of Okta have experienced a change of +4.1% in the past month compared to the +3.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), OKTA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Okta, Inc. (OKTA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks