Stock Alert: Okta Inc. Shares Rise In Pre-Market

(RTTNews) - Shares of Okta Inc. (OKTA) were higher after hours on Thursday, after the identity-management software company reported better-than-expected Q4 results.

OKTA is currently trading at $132.00, up $2.95 or 2.29% in pre-market today. The stock has been trading between $70.44 and $142.98 in the past one year, and closed Thursday's trade at $129.05, down $2.29 or 1.74%. Trading volume rose to 2.41 million versus an average volume of 1.46 million shares.

Q4 Results

The company's Q4 GAAP net loss was $50.5 million or $0.42 per share versus a loss of $30.8 million or $0.28 per share in the fourth quarter of fiscal 2019. Non-GAAP net loss was $1.7 million or $0.01 per share versus a loss of $4.4 million or $0.04 per share last year.

Analysts polled by Thomson Reuters expected a loss of $0.05 per share for the quarter. Analysts' estimate typically exclude certain special items.

Total revenue was $167.3 million, an increase of 45% year-over-year.

Q1, FY 2021 Outlook

For the first quarter of fiscal 2021, the company expects total revenue in the range of $171 million - $173 million, representing a growth rate of 37% - 38% year-over-year, and non-GAAP net loss per share of $0.24 - $0.23. Wall Street analysts estimate a loss of $0.14 per share on revenue of $166.37 million for the quarter.

The company sees fiscal 2021 total revenue of $770 million - $780 million, representing a growth rate of 31% - 33% year-over-year, and non-GAAP net loss per share of $0.42 - $0.37. Analysts expect a loss of $0.27 per share on revenue of $756.28 million for 2021.