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Okta (OKTA) Stock Slides as Market Rises: Facts to Know Before You Trade
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Okta (OKTA - Free Report) closed at $81.69 in the latest trading session, marking a -2.63% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.19%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.1%.
Shares of the cloud identity management company have appreciated by 33.32% over the course of the past month, outperforming the Computer and Technology sector's gain of 19.09%, and the S&P 500's gain of 9.13%.
Market participants will be closely following the financial results of Okta in its upcoming release. The company plans to announce its earnings on May 28, 2026. On that day, Okta is projected to report earnings of $0.85 per share, which would represent a year-over-year decline of 1.16%. Alongside, our most recent consensus estimate is anticipating revenue of $751.34 million, indicating a 9.21% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.79 per share and a revenue of $3.18 billion, demonstrating changes of +8.29% and +8.98%, respectively, from the preceding year.
Any recent changes to analyst estimates for Okta should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Okta currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Okta is currently trading at a Forward P/E ratio of 22.14. This represents a discount compared to its industry average Forward P/E of 37.96.
We can also see that OKTA currently has a PEG ratio of 1.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Security industry held an average PEG ratio of 2.74.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.
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Okta (OKTA) Stock Slides as Market Rises: Facts to Know Before You Trade
Okta (OKTA - Free Report) closed at $81.69 in the latest trading session, marking a -2.63% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.19%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.1%.
Shares of the cloud identity management company have appreciated by 33.32% over the course of the past month, outperforming the Computer and Technology sector's gain of 19.09%, and the S&P 500's gain of 9.13%.
Market participants will be closely following the financial results of Okta in its upcoming release. The company plans to announce its earnings on May 28, 2026. On that day, Okta is projected to report earnings of $0.85 per share, which would represent a year-over-year decline of 1.16%. Alongside, our most recent consensus estimate is anticipating revenue of $751.34 million, indicating a 9.21% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.79 per share and a revenue of $3.18 billion, demonstrating changes of +8.29% and +8.98%, respectively, from the preceding year.
Any recent changes to analyst estimates for Okta should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Okta currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Okta is currently trading at a Forward P/E ratio of 22.14. This represents a discount compared to its industry average Forward P/E of 37.96.
We can also see that OKTA currently has a PEG ratio of 1.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Security industry held an average PEG ratio of 2.74.
The Security industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.