Okta Jumps After Confirming Guidance for Q1 and 2022 By Investing.com

By Christiana Sciaudone

Investing.com — Okta (NASDAQ:OKTA) jumped almost 8% after reaffirming guidance during its investor day.

The cloud identity management company expects first quarter revenue of up to $239 million, up about 31% year-on-year, and a loss per share of between 20 cents and 21 cents. For fiscal 2022, sales are estimated at around $1.08 billion, up from $835 billion in fiscal 2021, with a loss per share of up to 49 cents, Okta said in a presentation.  

The company added 2,000 new customers in fiscal 2021 for a total of 10,000. It sees a total addressable market totalling $80 billion.

Shares have dropped about 17% since January, when they hit an all-time high.