In the latest trading session, Okta (OKTA) closed at $281.84, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily loss of 0.09%.
Prior to today's trading, shares of the cloud identity management company had gained 32.52% over the past month. This has outpaced the Computer and Technology sector's gain of 10.43% and the S&P 500's gain of 5.45% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release. In that report, analysts expect OKTA to post earnings of -$0.20 per share. This would mark a year-over-year decline of 185.71%. Meanwhile, our latest consensus estimate is calling for revenue of $238.61 million, up 30.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $1.1 billion. These totals would mark changes of -554.55% and +31.45%, respectively, from last 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. 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.
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 has moved 2.08% lower. OKTA is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Image: Bigstock
Okta (OKTA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Okta (OKTA) closed at $281.84, marking a -0.41% move from the previous day. This change lagged the S&P 500's daily loss of 0.09%.
Prior to today's trading, shares of the cloud identity management company had gained 32.52% over the past month. This has outpaced the Computer and Technology sector's gain of 10.43% and the S&P 500's gain of 5.45% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release. In that report, analysts expect OKTA to post earnings of -$0.20 per share. This would mark a year-over-year decline of 185.71%. Meanwhile, our latest consensus estimate is calling for revenue of $238.61 million, up 30.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $1.1 billion. These totals would mark changes of -554.55% and +31.45%, respectively, from last 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. 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.
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 has moved 2.08% lower. OKTA is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.