5 Stocks Making Big Moves After Earnings Reports

4. Okta, Inc. (NASDAQ:OKTA)

Number of Hedge Fund Holders: 52

Okta, Inc. (NASDAQ:OKTA) shares fell for two straight days even after posting narrower-than-expected loss for its fiscal fourth quarter. The identity and access management company reported an adjusted loss of 18 cents per share, compared to the consensus forecast for a loss of 24 cents per share.

Revenue for the quarter climbed 63 percent on a year-over-year basis to $383 million, while analysts were expecting Okta, Inc. (NASDAQ:OKTA) to generate revenue of $359.36 million. Its subscription revenue also jumped 64 percent to $369 million and accounted for more than 95 percent of the total quarterly sales.

Looking forward, Okta, Inc. (NASDAQ:OKTA) guided for an adjusted loss in the range of 35 – 34 cents per share for the current quarter. In addition, it expects to generate revenue between $388 – $390 million in the same period, representing a growth of about 55 percent over the same quarter of 2021.