|Bid||76.10 x 900|
|Ask||76.40 x 800|
|Day's Range||76.57 - 81.14|
|52 Week Range||44.12 - 203.79|
|Beta (5Y Monthly)||1.26|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 28, 2023 - Mar 06, 2023|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||93.59|
Business-software provider Okta said it is laying off about 300 employees, or 5% of staff, joining the spate of technology companies that are cutting costs following a pandemic-fueled growth spurt. Chief Executive Todd McKinnon said Okta made decisions last year that were based on demand trends experienced in 2021. In recent weeks, more businesses across tech and other sectors have joined a round of layoffs that was led by some of the largest tech companies, including Microsoft Corp. and Amazon.com Inc., around the start of the year.
Needham analyst Alex Henderson raised his rating on the software company and said management's financial forecasts are "easily beatable."
The wave of software layoffs continued Thursday as Okta Inc. announced that it was cutting 300 jobs.