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Okta (OKTA) Stock Sinks As Market Gains: What You Should Know

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Okta (OKTA) closed at $231.82 in the latest trading session, marking a -1.7% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%.

Prior to today's trading, shares of the cloud identity management company had gained 0.07% over the past month. This has lagged the Computer and Technology sector's gain of 2.31% and the S&P 500's gain of 2.37% 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. In that report, analysts expect OKTA to post earnings of -$0.35 per share. This would mark a year-over-year decline of 600%. Our most recent consensus estimate is calling for quarterly revenue of $295.12 million, up 47.23% from the year-ago period.

OKTA's full-year Zacks Consensus Estimates are calling for earnings of -$1.12 per share and revenue of $1.21 billion. These results would represent year-over-year changes of -1118.18% and +44.95%, respectively.

Investors should also note any recent changes to analyst estimates for OKTA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. OKTA is holding a Zacks Rank of #4 (Sell) 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 122, which puts it in the top 49% 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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