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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Okta (OKTA - Free Report) closed at $211.31, marking a -0.91% move from the previous day. This change lagged the S&P 500's 0.17% gain on the day. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 0.81%.
Coming into today, shares of the cloud identity management company had gained 7.05% in the past month. In that same time, the Computer and Technology sector gained 7.91%, while the S&P 500 gained 5.15%.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. In that report, analysts expect OKTA to post earnings of -$0.02 per share. This would mark year-over-year growth of 60%. Our most recent consensus estimate is calling for quarterly revenue of $190.56 million, up 35.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $791.61 million. These totals would mark changes of +38.71% and +35.07%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for OKTA. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $211.31, marking a -0.91% move from the previous day. This change lagged the S&P 500's 0.17% gain on the day. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq lost 0.81%.
Coming into today, shares of the cloud identity management company had gained 7.05% in the past month. In that same time, the Computer and Technology sector gained 7.91%, while the S&P 500 gained 5.15%.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. In that report, analysts expect OKTA to post earnings of -$0.02 per share. This would mark year-over-year growth of 60%. Our most recent consensus estimate is calling for quarterly revenue of $190.56 million, up 35.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $791.61 million. These totals would mark changes of +38.71% and +35.07%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for OKTA. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.