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Okta (OKTA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Okta (OKTA - Free Report) closed at $199.73, marking a +0.44% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 1%.
Prior to today's trading, shares of the cloud identity management company had lost 1.81% over the past month. This has lagged the Computer and Technology sector's gain of 5.24% and the S&P 500's gain of 5.63% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release, which is expected to be August 27, 2020. 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 $186.42 million, up 32.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $777.23 million, which would represent changes of +38.71% and +32.62%, respectively, from the prior year.
Any recent changes to analyst estimates for OKTA should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OKTA is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $199.73, marking a +0.44% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 1%.
Prior to today's trading, shares of the cloud identity management company had lost 1.81% over the past month. This has lagged the Computer and Technology sector's gain of 5.24% and the S&P 500's gain of 5.63% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release, which is expected to be August 27, 2020. 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 $186.42 million, up 32.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $777.23 million, which would represent changes of +38.71% and +32.62%, respectively, from the prior year.
Any recent changes to analyst estimates for OKTA should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OKTA is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.