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Okta (OKTA) Dips More Than Broader Markets: What You Should Know
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Okta (OKTA - Free Report) closed the most recent trading day at $101.65, moving -0.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq added 0.21%.
Prior to today's trading, shares of the cloud identity management company had gained 25.97% over the past month. This has outpaced the Computer and Technology sector's gain of 5.87% and the S&P 500's gain of 4.65% in that time.
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 -$0.21 per share, which would represent a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $116.66 million, up 39.51% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA is currently a Zacks Rank #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Okta (OKTA) Dips More Than Broader Markets: What You Should Know
Okta (OKTA - Free Report) closed the most recent trading day at $101.65, moving -0.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq added 0.21%.
Prior to today's trading, shares of the cloud identity management company had gained 25.97% over the past month. This has outpaced the Computer and Technology sector's gain of 5.87% and the S&P 500's gain of 4.65% in that time.
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 -$0.21 per share, which would represent a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $116.66 million, up 39.51% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA is currently a Zacks Rank #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.