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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 $68.70, moving +1.52% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Coming into today, shares of the cloud identity management company had lost 0.21% in the past month. In that same time, the Computer and Technology sector gained 4.01%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Okta as it approaches its next earnings release. On that day, Okta is projected to report earnings of $0.10 per share, which would represent year-over-year growth of 155.56%. Our most recent consensus estimate is calling for quarterly revenue of $488.99 million, up 27.67% from the year-ago period.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$0.27 per share and revenue of $1.84 billion. These results would represent year-over-year changes of +41.3% and +41.28%, respectively.
It is also important to note the recent changes to analyst estimates for Okta. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. The Zacks Consensus EPS estimate has moved 2.24% higher within the past month. Okta is currently sporting a Zacks Rank of #1 (Strong Buy).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
To follow OKTA in the coming trading sessions, be sure to utilize 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 $68.70, moving +1.52% from the previous trading session. This change lagged the S&P 500's 1.89% gain on the day. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 10%.
Coming into today, shares of the cloud identity management company had lost 0.21% in the past month. In that same time, the Computer and Technology sector gained 4.01%, while the S&P 500 gained 2.3%.
Investors will be hoping for strength from Okta as it approaches its next earnings release. On that day, Okta is projected to report earnings of $0.10 per share, which would represent year-over-year growth of 155.56%. Our most recent consensus estimate is calling for quarterly revenue of $488.99 million, up 27.67% from the year-ago period.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$0.27 per share and revenue of $1.84 billion. These results would represent year-over-year changes of +41.3% and +41.28%, respectively.
It is also important to note the recent changes to analyst estimates for Okta. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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. The Zacks Consensus EPS estimate has moved 2.24% higher within the past month. Okta is currently sporting a Zacks Rank of #1 (Strong Buy).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.