Okta (OKTA) closed the most recent trading day at $274.96, moving +0.15% from the previous trading session. This change outpaced the S&P 500's 0.92% loss on the day.
Coming into today, shares of the cloud identity management company had gained 17.81% in the past month. In that same time, the Computer and Technology sector gained 9.54%, while the S&P 500 gained 6.83%.
OKTA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.20, down 185.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $238.58 million, up 30.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.45 per share and revenue of $1.09 billion. These totals would mark changes of -509.09% and +30.12%, respectively, from last year.
Any recent changes to analyst estimates for OKTA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. OKTA is currently a Zacks Rank #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 109, putting it in the top 43% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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