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Okta (OKTA) Dips More Than Broader Markets: What You Should Know
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Okta (OKTA - Free Report) closed at $284.09 in the latest trading session, marking a -0.34% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq lost 0.58%.
Heading into today, shares of the cloud identity management company had gained 15.33% over the past month, outpacing the Computer and Technology sector's gain of 11.29% and the S&P 500's gain of 4.45% in that time.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021. In that report, analysts expect OKTA to post earnings of -$0.01 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $221.57 million, up 32.41% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for OKTA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% higher. OKTA is currently a Zacks Rank #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 221, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
Okta (OKTA - Free Report) closed at $284.09 in the latest trading session, marking a -0.34% move from the prior day. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq lost 0.58%.
Heading into today, shares of the cloud identity management company had gained 15.33% over the past month, outpacing the Computer and Technology sector's gain of 11.29% and the S&P 500's gain of 4.45% in that time.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021. In that report, analysts expect OKTA to post earnings of -$0.01 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $221.57 million, up 32.41% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for OKTA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% higher. OKTA is currently a Zacks Rank #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 221, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.