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Okta (OKTA) Dips More Than Broader Markets: What You Should Know
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Okta (OKTA - Free Report) closed at $188.09 in the latest trading session, marking a -0.41% move from the prior day. This move lagged the S&P 500's daily loss of 0.37%.
Heading into today, shares of the cloud identity management company had lost 3.97% over the past month, outpacing the Computer and Technology sector's loss of 8.73% and the S&P 500's loss of 6.01% in that time.
Okta will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Okta to post earnings of -$0.24 per share. This would mark a year-over-year decline of 500%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $359.38 million, up 53.1% from the year-ago period.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Okta is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.
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Okta (OKTA) Dips More Than Broader Markets: What You Should Know
Okta (OKTA - Free Report) closed at $188.09 in the latest trading session, marking a -0.41% move from the prior day. This move lagged the S&P 500's daily loss of 0.37%.
Heading into today, shares of the cloud identity management company had lost 3.97% over the past month, outpacing the Computer and Technology sector's loss of 8.73% and the S&P 500's loss of 6.01% in that time.
Okta will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2022. In that report, analysts expect Okta to post earnings of -$0.24 per share. This would mark a year-over-year decline of 500%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $359.38 million, up 53.1% from the year-ago period.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Okta is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.