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Okta (OKTA) Outpaces Stock Market Gains: What You Should Know
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Okta (OKTA - Free Report) closed the most recent trading day at $190.45, moving +1.25% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the cloud identity management company had lost 6.53% over the past month. This has lagged the Computer and Technology sector's loss of 5.35% and the S&P 500's loss of 4.03% in that time.
Okta will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Okta to post earnings of -$0.24 per share. This would mark a year-over-year decline of 500%. Our most recent consensus estimate is calling for quarterly revenue of $359.38 million, up 53.1% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Okta. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 is currently a Zacks Rank #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 152, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Okta (OKTA) Outpaces Stock Market Gains: What You Should Know
Okta (OKTA - Free Report) closed the most recent trading day at $190.45, moving +1.25% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the cloud identity management company had lost 6.53% over the past month. This has lagged the Computer and Technology sector's loss of 5.35% and the S&P 500's loss of 4.03% in that time.
Okta will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Okta to post earnings of -$0.24 per share. This would mark a year-over-year decline of 500%. Our most recent consensus estimate is calling for quarterly revenue of $359.38 million, up 53.1% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Okta. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 is currently a Zacks Rank #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 152, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.