In the latest trading session, Okta (OKTA) closed at $70.36, marking a -0.07% move from the previous day. This change lagged the S&P 500’s 0% on the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.06%.
Heading into today, shares of the cloud identity management company had gained 14.14% over the past month, outpacing the Computer and Technology sector’s loss of 0.1% and the S&P 500’s gain of 0.78% 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 December 5, 2018. In that report, analysts expect OKTA to post earnings of -$0.12 per share. This would mark year-over-year growth of 36.84%. Meanwhile, our latest consensus estimate is calling for revenue of $96.74 million, up 41.76% from the prior-year quarter.
OKTA’s full-year Zacks Consensus Estimates are calling for earnings of -$0.47 per share and revenue of $374.37 million. These results would represent year-over-year changes of +38.96% and +43.99%, respectively.
Investors should also note any recent changes to analyst estimates for OKTA. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 7.25% higher within the past month. OKTA is currently a Zacks Rank #3 (Hold).
The Internet – Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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