Okta (OKTA - Free Report) closed the most recent trading day at $72.13, moving -0.55% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the cloud identity management company had gained 32.14% over the past month. This has outpaced the Computer and Technology sector's gain of 2.11% and the S&P 500's gain of 3.1% in that time.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be December 5, 2018. On that day, OKTA is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 36.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $96.74 million, up 41.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.47 per share and revenue of $374.37 million, which would represent changes of +38.96% and +43.99%, respectively, from the prior year.
Any recent changes to analyst estimates for OKTA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 7.25% higher within the past month. 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 group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.