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In the latest trading session, Okta (OKTA - Free Report) closed at $80.19, marking a +1.32% move from the previous day. This change outpaced the S&P 500's 0.11% gain on the day. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.18%.
The cloud identity management company's shares have seen an increase of 10.32% over the last month, surpassing the Computer and Technology sector's loss of 3.85% and the S&P 500's loss of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of Okta in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.86, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $751.88 million, indicating a 9.28% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.77 per share and revenue of $3.18 billion. These totals would mark changes of +7.71% and +8.96%, respectively, from last year.
Any recent changes to analyst estimates for Okta should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 6.98% rise in the Zacks Consensus EPS estimate. Okta is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Okta has a Forward P/E ratio of 20.98 right now. This denotes a discount relative to the industry average Forward P/E of 34.27.
We can also see that OKTA currently has a PEG ratio of 1.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Security stocks are, on average, holding a PEG ratio of 2.47 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Okta (OKTA) Laps the Stock Market: Here's Why
In the latest trading session, Okta (OKTA - Free Report) closed at $80.19, marking a +1.32% move from the previous day. This change outpaced the S&P 500's 0.11% gain on the day. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.18%.
The cloud identity management company's shares have seen an increase of 10.32% over the last month, surpassing the Computer and Technology sector's loss of 3.85% and the S&P 500's loss of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of Okta in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.86, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $751.88 million, indicating a 9.28% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.77 per share and revenue of $3.18 billion. These totals would mark changes of +7.71% and +8.96%, respectively, from last year.
Any recent changes to analyst estimates for Okta should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 6.98% rise in the Zacks Consensus EPS estimate. Okta is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Okta has a Forward P/E ratio of 20.98 right now. This denotes a discount relative to the industry average Forward P/E of 34.27.
We can also see that OKTA currently has a PEG ratio of 1.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Security stocks are, on average, holding a PEG ratio of 2.47 based on yesterday's closing prices.
The Security industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.