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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know
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Okta (OKTA - Free Report) closed the most recent trading day at $83.99, moving -1.28% from the previous trading session. This change lagged the S&P 500's 0.18% gain on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the cloud identity management company had gained 10.18% in the past month. In that same time, the Computer and Technology sector gained 5.62%, while the S&P 500 gained 4.28%.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2019. In that report, analysts expect OKTA to post earnings of -$0.08 per share. This would mark year-over-year growth of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $107.94 million, up 38.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for OKTA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know
Okta (OKTA - Free Report) closed the most recent trading day at $83.99, moving -1.28% from the previous trading session. This change lagged the S&P 500's 0.18% gain on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the cloud identity management company had gained 10.18% in the past month. In that same time, the Computer and Technology sector gained 5.62%, while the S&P 500 gained 4.28%.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2019. In that report, analysts expect OKTA to post earnings of -$0.08 per share. This would mark year-over-year growth of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $107.94 million, up 38.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for OKTA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA currently has a Zacks Rank of #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.