Long over 200 Short under it. Large rev growth, declining RPOOkta announced the pricing of $1.0 bln aggregate principal amount of Convertible Senior Notes due 2026 (180.07)
The notes will be senior, unsecured obligations of Okta. The notes will bear interest at a rate of 0.375% per year. Interest will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2020. The notes will mature on June 15, 2026, unless earlier redeemed, repurchased, or converted.
Okta (OKTA) assumed with a Hold at Canaccord Genuity
Okta target lowered to $205 at BMO Capital Markets (183.92)
BMO Capital Markets lowers their OKTA tgt to $205 from $210
Okta beats by $0.10, beats on revs; guides Q2 EPS above consensus, revs in-line; guides FY21 EPS above consensus, revs in-line (183.92 +4.50)
Reports Q1 (Apr) loss of $0.07 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of ($0.17); revenues rose 46.0% year/year to $182.86 mln vs the $171.57 mln S&P Capital IQ Consensus.
Co issues guidance for Q2, sees EPS of ($0.02)-($0.01), excluding non-recurring items, vs. ($0.09) S&P Capital IQ Consensus; sees Q2 revs of $185-187 mln vs. $184.74 mln S&P Capital IQ Consensus.
Co issues guidance for FY21, sees EPS of ($0.23)-($0.18), excluding non-recurring items, vs. ($0.32) S&P Capital IQ Consensus; sees FY21 revs of $770-780 mln vs. $772.26 mln S&P Capital IQ Consensus.
"We are pleased with our continued execution and strong first quarter results," said Bill Losch, Chief Financial Officer of Okta. "Looking ahead, our strong first quarter revenue performance and highly recurring business model give us confidence in reiterating our fiscal year 2021 revenue outlook. In addition, we are improving our operating loss and loss per share outlook for the fiscal year. While we believe it's prudent to continue to expect some near-term business headwinds as the economic impacts from the pandemic further unfold, we remain highly confident in our long-term success as the leader in the massive identity and access management market."
