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In the latest trading session, Okta (OKTA) closed at $241.35, marking a +0.51% move from the previous day. This change outpaced the S&P 500's 0.09% loss on the day.
Heading into today, shares of the cloud identity management company had lost 4.65% over the past month, lagging the Computer and Technology sector's gain of 2.73% and the S&P 500's gain of 2.28% 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 September 1, 2021. The company is expected to report EPS of -$0.35, down 600% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $295.12 million, up 47.23% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.12 per share and revenue of $1.21 billion. These totals would mark changes of -1118.18% and +44.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for OKTA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 has moved 0.08% higher. OKTA is currently a Zacks Rank #4 (Sell).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% 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.
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