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Okta (OKTA) Registers a Bigger Fall Than the Market: Important Facts to Note
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Okta (OKTA - Free Report) closed the most recent trading day at $184.87, moving -11.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq depreciated by 1.07%.
The cloud identity management company's stock has dropped by 1.54% in the past month, exceeding the Computer and Technology sector's loss of 9.88% and lagging the S&P 500's loss of 0.87%.
The investment community will be closely monitoring the performance of Okta in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.93, marking a 13.41% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $815.52 million, reflecting a 9.91% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.93 per share and revenue of $3.22 billion. These totals would mark changes of +12.29% and +10.44%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Okta. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Okta is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Okta is at present trading with a Forward P/E ratio of 53.03. For comparison, its industry has an average Forward P/E of 53.03, which means Okta is trading at no noticeable deviation to the group.
Also, we should mention that OKTA has a PEG ratio of 3.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Security industry currently had an average PEG ratio of 3.23 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Okta (OKTA) Registers a Bigger Fall Than the Market: Important Facts to Note
Okta (OKTA - Free Report) closed the most recent trading day at $184.87, moving -11.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq depreciated by 1.07%.
The cloud identity management company's stock has dropped by 1.54% in the past month, exceeding the Computer and Technology sector's loss of 9.88% and lagging the S&P 500's loss of 0.87%.
The investment community will be closely monitoring the performance of Okta in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.93, marking a 13.41% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $815.52 million, reflecting a 9.91% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.93 per share and revenue of $3.22 billion. These totals would mark changes of +12.29% and +10.44%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Okta. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Okta is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Okta is at present trading with a Forward P/E ratio of 53.03. For comparison, its industry has an average Forward P/E of 53.03, which means Okta is trading at no noticeable deviation to the group.
Also, we should mention that OKTA has a PEG ratio of 3.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Security industry currently had an average PEG ratio of 3.23 as of yesterday's close.
The Security industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.