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Okta (OKTA) Gains As Market Dips: What You Should Know
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In the latest trading session, Okta (OKTA - Free Report) closed at $228.42, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%.
Prior to today's trading, shares of the cloud identity management company had lost 14.47% over the past month. This has lagged the Computer and Technology sector's loss of 5.62% and the S&P 500's loss of 1.27% in that time.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. This is expected to be May 26, 2021. In that report, analysts expect OKTA to post earnings of -$0.20 per share. This would mark a year-over-year decline of 185.71%. Our most recent consensus estimate is calling for quarterly revenue of $238.61 million, up 30.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.45 per share and revenue of $1.1 billion, which would represent changes of -509.09% and +31.45%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. OKTA is holding a Zacks Rank of #5 (Strong Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Okta (OKTA) Gains As Market Dips: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $228.42, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.29%.
Prior to today's trading, shares of the cloud identity management company had lost 14.47% over the past month. This has lagged the Computer and Technology sector's loss of 5.62% and the S&P 500's loss of 1.27% in that time.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. This is expected to be May 26, 2021. In that report, analysts expect OKTA to post earnings of -$0.20 per share. This would mark a year-over-year decline of 185.71%. Our most recent consensus estimate is calling for quarterly revenue of $238.61 million, up 30.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.45 per share and revenue of $1.1 billion, which would represent changes of -509.09% and +31.45%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. OKTA is holding a Zacks Rank of #5 (Strong Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.