Okta (OKTA) closed the most recent trading day at $132.46, moving -1.05% from the previous trading session. This change was narrower than the S&P 500's 2.6% loss on the day. At the same time, the Dow lost 2.37%, and the tech-heavy Nasdaq lost 3%.
Heading into today, shares of the cloud identity management company had lost 2.01% over the past month, outpacing the Computer and Technology sector's loss of 2.19% and lagging the S&P 500's loss of 1.84% in that time.
Investors will be hoping for strength from OKTA as it approaches its next earnings release, which is expected to be August 28, 2019. On that day, OKTA is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $131.09 million, up 38.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.46 per share and revenue of $547.55 million. These totals would mark changes of -43.75% and +37.14%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. OKTA is currently a Zacks Rank #3 (Hold).
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% 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.
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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Okta, Inc. (OKTA) : Free Stock Analysis Report
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