Okta (OKTA - Free Report) closed at $110.93 in the latest trading session, marking a +1.11% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Prior to today's trading, shares of the cloud identity management company had gained 19.33% over the past month. This has outpaced the Computer and Technology sector's loss of 1.99% and the S&P 500's loss of 0.88% in that time.
Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. This is expected to be May 30, 2019. In that report, analysts expect OKTA to post earnings of -$0.21 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $116.66 million, up 39.51% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.49 per share and revenue of $533.75 million. These totals would mark changes of -53.13% and +33.69%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for OKTA. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. OKTA is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.