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Okta (OKTA) Gains But Lags Market: What You Should Know
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In the latest trading session, Okta (OKTA - Free Report) closed at $150.18, marking a +1.7% move from the previous day. This change lagged the S&P 500's 2.66% gain on the day. Elsewhere, the Dow gained 2.21%, while the tech-heavy Nasdaq added 3.57%.
Prior to today's trading, shares of the cloud identity management company had gained 20.77% over the past month. This has outpaced the Computer and Technology sector's gain of 11.73% and the S&P 500's gain of 12.74% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release. The company is expected to report EPS of -$0.18, up 5.26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $172.10 million, up 37.44% from the year-ago period.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$0.35 per share and revenue of $776.24 million. These results would represent year-over-year changes of -12.9% and +32.45%, respectively.
Investors should also note any recent changes to analyst estimates for OKTA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 2.95% higher within the past month. OKTA is currently a Zacks Rank #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 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Gains But Lags Market: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $150.18, marking a +1.7% move from the previous day. This change lagged the S&P 500's 2.66% gain on the day. Elsewhere, the Dow gained 2.21%, while the tech-heavy Nasdaq added 3.57%.
Prior to today's trading, shares of the cloud identity management company had gained 20.77% over the past month. This has outpaced the Computer and Technology sector's gain of 11.73% and the S&P 500's gain of 12.74% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release. The company is expected to report EPS of -$0.18, up 5.26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $172.10 million, up 37.44% from the year-ago period.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$0.35 per share and revenue of $776.24 million. These results would represent year-over-year changes of -12.9% and +32.45%, respectively.
Investors should also note any recent changes to analyst estimates for OKTA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 2.95% higher within the past month. OKTA is currently a Zacks Rank #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 70, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.