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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Okta (OKTA - Free Report) closed at $91.94, marking a -0.28% move from the previous day. This change lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.42%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the cloud identity management company had gained 12.76% in the past month. In that same time, the Computer and Technology sector gained 4.43%, while the S&P 500 gained 2.89%.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. On that day, OKTA is projected to report earnings of -$0.21 per share, which would represent a year-over-year decline of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $116.66 million, up 39.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.49 per share and revenue of $533.75 million. These totals would mark changes of -53.13% and +33.69%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for OKTA. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 18% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $91.94, marking a -0.28% move from the previous day. This change lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.42%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the cloud identity management company had gained 12.76% in the past month. In that same time, the Computer and Technology sector gained 4.43%, while the S&P 500 gained 2.89%.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. On that day, OKTA is projected to report earnings of -$0.21 per share, which would represent a year-over-year decline of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $116.66 million, up 39.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.49 per share and revenue of $533.75 million. These totals would mark changes of -53.13% and +33.69%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for OKTA. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 18% 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.