Okta (OKTA) closed at USD 251.84 in the last trading session, a move of + 0.23% compared to the previous day. The stock trailed the S&P 500’s daily gain of 1.13%.
Today, shares in the cloud identity management company were up 13.12% over the past month. At the same time, the computer and technology sector rose 4.4% while the S&P 500 rose 2.39%.
Investors will be hoping for strength from OKTA as it nears its next earnings release. In this report, analysts expect OKTA to report earnings of -0.35 USD per share. This would mean a decrease of 600% compared to the previous year. Meanwhile, the Zacks Consensus Estimate forecasts net sales of $ 295.12 million, up 47.23% from the same period last year.
OKTA’s Zacks Consensus Estimates for the full year project earnings per share of $ 1.13 and sales of $ 1.21 billion. These results would represent changes of -1127.27% and +44.95% respectively compared to the previous year.
Any recent changes in analysts’ estimates for OKTA should also be considered by investors. Most recent revisions usually reflect the latest short-term business trends. With this in mind, we can view positive valuation revisions as a sign of optimism about the company’s business outlook.
Research has shown that these estimate revisions correlate directly with short-term stock price dynamics. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these estimation changes into account and provides an actionable rating system.
The Zacks ranking system, which ranges from # 1 (Strong Buy) to # 5 (Strong Sell), has an impressive, externally audited track record of outperformance, with # 1 stocks posting an average annual return of + 25% since 1988 last month, Zack’s Consensus EPS estimate remained flat. OKTA is currently a Zacks Rank # 4 (Sell).
The Internet software and services industry belongs to the computers and technology sector. This group has a Zacks industry rank of 185, making it one of the bottom 28% of all over 250 industries.
The Zacks Industry Rank is a best-to-worst ranking based on the average Zacks rank of each company in each of those sectors. Our research shows that the top-rated 50% of industries outperform the bottom half by a factor of 2 to 1.
For more information on all of these metrics and more, visit Zacks.com.
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