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Okta (OKTA) Stock Moves -1.28%: What You Should Know
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The latest trading session saw Okta (OKTA - Free Report) ending at $84.37, denoting a -1.28% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.54% for the day. On the other hand, the Dow registered a loss of 1.63%, and the technology-centric Nasdaq decreased by 1.63%.
Shares of the cloud identity management company have appreciated by 1.85% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.11% and the S&P 500's loss of 2.2%.
Market participants will be closely following the financial results of Okta in its upcoming release. The company's upcoming EPS is projected at $0.73, signifying a 15.87% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $668.8 million, indicating a 10.55% upward movement from the same quarter last year.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of $2.77 per share and revenue of $2.6 billion. These results would represent year-over-year changes of +73.13% and +14.75%, respectively.
Investors should also pay attention to any latest changes in 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.01% higher within the past month. As of now, Okta holds a Zacks Rank of #2 (Buy).
With respect to valuation, Okta is currently being traded at a Forward P/E ratio of 30.87. This represents a premium compared to its industry's average Forward P/E of 15.
One should further note that OKTA currently holds a PEG ratio of 1.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Software and Services industry was having an average PEG ratio of 1.3.
The Internet - Software and Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 9, this industry ranks in the top 4% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.
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Okta (OKTA) Stock Moves -1.28%: What You Should Know
The latest trading session saw Okta (OKTA - Free Report) ending at $84.37, denoting a -1.28% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.54% for the day. On the other hand, the Dow registered a loss of 1.63%, and the technology-centric Nasdaq decreased by 1.63%.
Shares of the cloud identity management company have appreciated by 1.85% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.11% and the S&P 500's loss of 2.2%.
Market participants will be closely following the financial results of Okta in its upcoming release. The company's upcoming EPS is projected at $0.73, signifying a 15.87% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $668.8 million, indicating a 10.55% upward movement from the same quarter last year.
OKTA's full-year Zacks Consensus Estimates are calling for earnings of $2.77 per share and revenue of $2.6 billion. These results would represent year-over-year changes of +73.13% and +14.75%, respectively.
Investors should also pay attention to any latest changes in 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.01% higher within the past month. As of now, Okta holds a Zacks Rank of #2 (Buy).
With respect to valuation, Okta is currently being traded at a Forward P/E ratio of 30.87. This represents a premium compared to its industry's average Forward P/E of 15.
One should further note that OKTA currently holds a PEG ratio of 1.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Software and Services industry was having an average PEG ratio of 1.3.
The Internet - Software and Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 9, this industry ranks in the top 4% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OKTA in the coming trading sessions, be sure to utilize Zacks.com.