OKTA Stock Recent News

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Okta (OKTA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended January 2024.

Okta (OKTA) closed the most recent trading day at $82.30, moving +1.38% from the previous trading session.

In the closing of the recent trading day, Okta (OKTA) stood at $88.86, denoting a -0.65% change from the preceding trading day.

Okta (OKTA) concluded the recent trading session at $81.88, signifying a -0.32% move from its prior day's close.

In the most recent trading session, Okta (OKTA) closed at $82.14, indicating a -0.77% shift from the previous trading day.

Okta on Thursday announced plans to cut its headcount by approximately 400 workers. That equates to about 7% of its workforce, according to the identity company.

Headlines of layoffs in the tech sector continue to roll in. Today's latest contributor to the revolving door that is the U.S. technology sector is Okta (NASDAQ: OKTA ).

Identity security company Okta told its staff on Thursday it will cut as many as 400 employees, while Zoom reportedly plans to slash 150 positions—the latest in a string of job cuts this year that have rocked the tech industry, including at Microsoft, Amazon, eBay and PayPal, following a parade of layoffs in 2022 and 2023.

Okta Inc is in focus this morning after announcing plans of lowering its headcount by about 7.0%. The cybersecurity company will lay off some 400 of its employees in total as “costs are still too high”.

Shares of Okta Inc. OKTA, -3.20% rallied 3.2% in premarket trading Thursday, after the identity software company said it would lay off about 7% of its workforce, as part of a restructuring aimed at improving efficiencies and profitability. The company disclosed in an 8-K filing with the Securities and Exchange Commission that the restructuring involves cutting 400 full-time jobs.