In the latest trading session, Okta (OKTA) closed at $207.76, marking a -1.5% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Heading into today, shares of the cloud identity management company had gained 8.05% over the past month, outpacing the Computer and Technology sector's gain of 5.91% and the S&P 500's gain of 2.08% in that time.
OKTA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.02, up 60% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $190.56 million, up 35.65% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $791.61 million. These totals would mark changes of +38.71% and +35.07%, respectively, from last year.
Investors might also notice 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. 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.
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 holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Okta, Inc. (OKTA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research