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Okta (OKTA) Stock Moves -0.06%: What You Should Know
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Okta (OKTA - Free Report) closed at $68.53 in the latest trading session, marking a -0.06% move from the prior day. This change was narrower than the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Coming into today, shares of the cloud identity management company had lost 4.03% in the past month. In that same time, the Computer and Technology sector gained 1.61%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Okta as it approaches its next earnings report date. The company is expected to report EPS of $0.21, up 310% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $534.06 million, up 18.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.91 per share and revenue of $2.18 billion, which would represent changes of +2375% and +17.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Okta. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Okta is currently a Zacks Rank #3 (Hold).
Digging into valuation, Okta currently has a Forward P/E ratio of 75.41. For comparison, its industry has an average Forward P/E of 16.44, which means Okta is trading at a premium to the group.
It is also worth noting that OKTA currently has a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OKTA's industry had an average PEG ratio of 1.25 as of yesterday's close.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Okta (OKTA) Stock Moves -0.06%: What You Should Know
Okta (OKTA - Free Report) closed at $68.53 in the latest trading session, marking a -0.06% move from the prior day. This change was narrower than the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Coming into today, shares of the cloud identity management company had lost 4.03% in the past month. In that same time, the Computer and Technology sector gained 1.61%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Okta as it approaches its next earnings report date. The company is expected to report EPS of $0.21, up 310% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $534.06 million, up 18.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.91 per share and revenue of $2.18 billion, which would represent changes of +2375% and +17.41%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Okta. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Okta is currently a Zacks Rank #3 (Hold).
Digging into valuation, Okta currently has a Forward P/E ratio of 75.41. For comparison, its industry has an average Forward P/E of 16.44, which means Okta is trading at a premium to the group.
It is also worth noting that OKTA currently has a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OKTA's industry had an average PEG ratio of 1.25 as of yesterday's close.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.