Insights Into Okta (OKTA) Q2: Wall Street Projections for Key Metrics

In its upcoming report, Okta (OKTA) is predicted by Wall Street analysts to post quarterly earnings of $0.84 per share, reflecting an increase of 16.7% compared to the same period last year. Revenues are forecasted to be $711.04 million, representing a year-over-year increase of 10.1%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Given this perspective, it's time to examine the average forecasts of specific Okta metrics that are routinely monitored and predicted by Wall Street analysts.Analysts expect 'Revenue- Subscription' to come in at $696.61 million. The estimate points to a change of +10.2% from the year-ago quarter.The average prediction of analysts places 'Revenue- Professional services and other' at $14.49 million. The estimate suggests a change of +3.5% year over year.Analysts' assessment points toward 'Current remaining performance obligations (cRPO)' reaching $2.20 billion. Compared to the present estimate, the company reported $2.00 billion in the same quarter last year.The consensus among analysts is that 'Remaining performance obligations' will reach $4.10 billion. The estimate compares to the year-ago value of $3.51 billion.It is projected by analysts that the 'Gross margin- Subscription' will reach 83.6%. Compared to the present estimate, the company reported 78.0% in the same quarter last year.Based on the collective assessment of analysts, 'Total Customers' should arrive at 20,426 . The estimate compares to the year-ago value of 19,300 . View all Key Company Metrics for Okta here>>> Shares of Okta have experienced a change of -4.8% in the past month compared to the +1.7% 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 >>>> .Free Report: 3 Software Stocks Poised to SkyrocketSoftware stocks are poised to catapult higher in the coming months (and years) thanks to several factors, especially the explosive growth of AI. Zacks' urgent report reveals 3 top software stocks to own right now.Access the report free today >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks