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Okta (OKTA) Stock Moves 0.09%: What You Should Know
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Okta (OKTA - Free Report) closed at $77.81 in the latest trading session, marking a +0.09% move from the prior day. This change traded in line with S&P 500. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the cloud identity management company had lost 7.72% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's gain of 6.17% in that time.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of $0.12 per share. This would mark year-over-year growth of 144.44%. Meanwhile, our latest consensus estimate is calling for revenue of $510.58 million, up 23.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.76 per share and revenue of $2.17 billion, which would represent changes of +2000% and +16.62%, respectively, from the prior year.
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. 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.
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. The Zacks Consensus EPS estimate has moved 1.02% higher within the past month. Okta is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Okta currently has a Forward P/E ratio of 102.02. For comparison, its industry has an average Forward P/E of 27.33, which means Okta is trading at a premium to the group.
Investors should also note that OKTA has a PEG ratio of 4.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software and Services was holding an average PEG ratio of 4.08 at yesterday's closing price.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Okta (OKTA) Stock Moves 0.09%: What You Should Know
Okta (OKTA - Free Report) closed at $77.81 in the latest trading session, marking a +0.09% move from the prior day. This change traded in line with S&P 500. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the cloud identity management company had lost 7.72% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's gain of 6.17% in that time.
Okta will be looking to display strength as it nears its next earnings release. In that report, analysts expect Okta to post earnings of $0.12 per share. This would mark year-over-year growth of 144.44%. Meanwhile, our latest consensus estimate is calling for revenue of $510.58 million, up 23.05% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.76 per share and revenue of $2.17 billion, which would represent changes of +2000% and +16.62%, respectively, from the prior year.
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. 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.
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. The Zacks Consensus EPS estimate has moved 1.02% higher within the past month. Okta is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Okta currently has a Forward P/E ratio of 102.02. For comparison, its industry has an average Forward P/E of 27.33, which means Okta is trading at a premium to the group.
Investors should also note that OKTA has a PEG ratio of 4.08 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software and Services was holding an average PEG ratio of 4.08 at yesterday's closing price.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.