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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.
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