We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Okta (OKTA) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Okta (OKTA - Free Report) closed at $246.31, marking a +1.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the cloud identity management company had gained 25.86% over the past month, outpacing the Computer and Technology sector's gain of 6.24% and the S&P 500's gain of 3.19% in that time.
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 -$0.02 per share, which would represent year-over-year growth of 71.43%. Our most recent consensus estimate is calling for quarterly revenue of $202.63 million, up 32.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $802.19 million, which would represent changes of +93.55% and +36.88%, respectively, from the prior year.
Investors might also notice 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.
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 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 industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Okta (OKTA) Gains As Market Dips: What You Should Know
In the latest trading session, Okta (OKTA - Free Report) closed at $246.31, marking a +1.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the cloud identity management company had gained 25.86% over the past month, outpacing the Computer and Technology sector's gain of 6.24% and the S&P 500's gain of 3.19% in that time.
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 -$0.02 per share, which would represent year-over-year growth of 71.43%. Our most recent consensus estimate is calling for quarterly revenue of $202.63 million, up 32.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.02 per share and revenue of $802.19 million, which would represent changes of +93.55% and +36.88%, respectively, from the prior year.
Investors might also notice 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.
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 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 industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.