Okta (OKTA) closed the most recent trading day at $83.56, moving +1.37% from the previous trading session. The stock outpaced the S&P 500’s daily gain of 0.09%. At the same time, the Dow added 0.26%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the cloud identity management company had gained 38.4% over the past month, outpacing the Computer and Technology sector’s gain of 8.88% and the S&P 500’s gain of 7.92% in that time.
OKTA will be looking to display strength as it nears its next earnings release, which is expected to be March 6, 2019. The company is expected to report EPS of -$0.08, up 20% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $107.94 million, up 38.83% from the year-ago period.
Investors might also notice recent changes to analyst estimates for OKTA. These recent revisions tend to reflect the evolving nature of short-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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. 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 94, which puts it in the top 37% 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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