Okta (OKTA - Free Report) closed the most recent trading day at $110.90, moving +1.13% from the previous trading session. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the cloud identity management company had lost 4.29% over the past month, lagging the Computer and Technology sector's gain of 8.71% and the S&P 500's gain of 7.08% 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 December 5, 2019. On that day, OKTA is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 200%. Meanwhile, our latest consensus estimate is calling for revenue of $143.45 million, up 35.87% from the prior-year quarter.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$0.43 per share and revenue of $561.62 million. These results would represent year-over-year changes of -34.38% and +40.67%, respectively.
Any recent changes to analyst estimates for OKTA should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.