Okta (OKTA - Free Report) closed at $250.50 in the latest trading session, marking a +0.89% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day.
Coming into today, shares of the cloud identity management company had gained 0.1% in the past month. In that same time, the Computer and Technology sector gained 2.65%, while the S&P 500 gained 2.91%.
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 -$0.35 per share, which would represent a year-over-year decline of 600%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $295.12 million, up 47.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.12 per share and revenue of $1.21 billion, which would represent changes of -1118.18% and +44.95%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for OKTA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. OKTA is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Okta (OKTA - Free Report) closed at $250.50 in the latest trading session, marking a +0.89% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day.
Coming into today, shares of the cloud identity management company had gained 0.1% in the past month. In that same time, the Computer and Technology sector gained 2.65%, while the S&P 500 gained 2.91%.
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 -$0.35 per share, which would represent a year-over-year decline of 600%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $295.12 million, up 47.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.12 per share and revenue of $1.21 billion, which would represent changes of -1118.18% and +44.95%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for OKTA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. OKTA is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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