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Okta (OKTA) Stock Moves -1.76%: What You Should Know
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Okta (OKTA - Free Report) closed the most recent trading day at $136.33, moving -1.76% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.77%. Meanwhile, the Dow lost 2.82%, and the Nasdaq, a tech-heavy index, lost 0.83%.
Coming into today, shares of the cloud identity management company had lost 3.97% in the past month. In that same time, the Computer and Technology sector lost 6.75%, while the S&P 500 lost 1.35%.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of -$0.34 per share. This would mark a year-over-year decline of 240%. Our most recent consensus estimate is calling for quarterly revenue of $388.98 million, up 54.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.25 per share and revenue of $1.78 billion, which would represent changes of -171.74% and +37.18%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Okta is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Okta (OKTA) Stock Moves -1.76%: What You Should Know
Okta (OKTA - Free Report) closed the most recent trading day at $136.33, moving -1.76% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.77%. Meanwhile, the Dow lost 2.82%, and the Nasdaq, a tech-heavy index, lost 0.83%.
Coming into today, shares of the cloud identity management company had lost 3.97% in the past month. In that same time, the Computer and Technology sector lost 6.75%, while the S&P 500 lost 1.35%.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of -$0.34 per share. This would mark a year-over-year decline of 240%. Our most recent consensus estimate is calling for quarterly revenue of $388.98 million, up 54.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.25 per share and revenue of $1.78 billion, which would represent changes of -171.74% and +37.18%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Okta is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.