What do you think about this earning report...here are our thoughts! Okta (NASDAQ:OKTA) is scheduled to announce Q2 earnings results on Thursday, August 27th, after market close.
The consensus EPS Estimate is -$0.02 (+60.0% Y/Y) and the consensus Revenue Estimate is $186.37M (+32.7% Y/Y).
Expected adjusted gross margin of 77.8%.
Over the last 2 years, OKTA has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 18 upward revisions and 0 downward. Revenue estimates have seen 9 upward revisions and 6 downward.
Second-quarter fiscal 2021 earnings are expected to have been weighed down by higher research and development expenses. Notably, non-GAAP research and development expenses surged 42.5% year over year to $48.5 million in first-quarter fiscal 2021 due to significant investments in Okta identity platform and integration network.
Nevertheless, product innovations and continued adoption of identity solutions are expected to have driven Okta’s top line.
Markedly, FedEX FDX implemented the Okta Identity Cloud to securely enable its global workforce of essential employees to remotely access the critical applications required to successfully deliver goods and services to customers during the COVID-19 pandemic.
How does Pineapple Stocks Feel About The Earnings?
We believe the market cap is rich for this company at $28 billion dollars, this earning play should be avoided for any long term holders in our opinion, and is best to wait it out. You can use an Iron Condor or Iron Butterfly, or Short Strangle.
Short Strangle allows you to sell both Call and Put Naked for $15.00 Premium. (Your Break even is $237 and 207, anything between this and you will collect premium. Iron Condor 195/207.5 | 220/232.5 pays out $6.28 credit