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Okta (OKTA) Gains But Lags Market: What You Should Know
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Okta (OKTA - Free Report) closed the most recent trading day at $68.03, moving +1.9% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Coming into today, shares of the cloud identity management company had gained 4.61% in the past month. In that same time, the Computer and Technology sector lost 8.41%, while the S&P 500 lost 4.61%.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of $0.09 per share. This would mark year-over-year growth of 150%. Meanwhile, our latest consensus estimate is calling for revenue of $488.98 million, up 27.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.27 per share and revenue of $1.84 billion. These totals would mark changes of +41.3% and +41.28%, respectively, from last year.
Investors might also notice 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.
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 2.15% higher. Okta is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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) Gains But Lags Market: What You Should Know
Okta (OKTA - Free Report) closed the most recent trading day at $68.03, moving +1.9% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. Meanwhile, the Dow gained 2.13%, and the Nasdaq, a tech-heavy index, added 5.02%.
Coming into today, shares of the cloud identity management company had gained 4.61% in the past month. In that same time, the Computer and Technology sector lost 8.41%, while the S&P 500 lost 4.61%.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of $0.09 per share. This would mark year-over-year growth of 150%. Meanwhile, our latest consensus estimate is calling for revenue of $488.98 million, up 27.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.27 per share and revenue of $1.84 billion. These totals would mark changes of +41.3% and +41.28%, respectively, from last year.
Investors might also notice 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.
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 2.15% higher. Okta is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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.