This story originally appeared on Zacks
Okta (OKTA) closed the last trading day at $204.41, up 1.19% from the previous trading session. That change outpaced the S&P 500’s gain of 0.08% on the day. Elsewhere, the Dow Jones lost 0.56%, while the big tech Nasdaq lost 0.42%.
Heading into the day, shares of the cloud identity management company have lost 4.63% over the past month, outpacing the computer and technology sector’s loss of 5.11% and falling behind the S&P 500’s 0.22% gain in the time.
Investors are hoping for strength from Okta as it nears its next earnings release. The company is expected to report earnings per share – $0.24, down 500% from the previous quarter. Meanwhile, our latest consensus estimate calls for revenue of $359.38 million, up 53.1% over the prior year quarter.
Looking at the full year, our Zacks Consensus estimates that analysts expect earnings of $0.52 per share and revenue of $1.28 billion. These totals will indicate changes of -572.73% and +52.81%, respectively, from last year.
It is also important to note recent changes in analyst estimates for Okta. Recent reviews tend to reflect the latest near-term business trends. As such, positive rating reviews reflect the analyst’s optimism about the company’s business and profitability.
Our research shows that these discretionary changes are directly correlated with near-term stock prices. Investors can take advantage of this using Zacks Rank. This model takes into account these changes in grading and provides a simple and actionable rating system.
Ranging from #1 (strong buy) to #5 (strong sell), the Zacks Rank system has an externally audited track record of outperforming, returning the #1 stock an average of +25% per year since 1988. Zacks consensus has been profitability estimates The stock is stagnant over the past month. Okta holds a Zacks rating of number two (buy) at the moment.
Internet – The software and services industry is part of the computer and technology sector. The industry currently has a Zacks Industry Rating of 86, placing it in the top 34% of all 250+ industries.
Zacks Industry Ranking measures the strength of our industry groups by measuring the average Zacks rating of the individual stocks within the groups. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to keep track of all these stock movement metrics and more in upcoming trading sessions.
Infrastructure stock boom to sweep America
A massive push to rebuild America’s crumbling infrastructure will soon begin. It is certain, urgent and inevitable. Trillions will be spent. fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a special report to help you do just that, and it’s free today. Discover 5 private companies looking to get the most from construction and repairs to roads, bridges and buildings, as well as moving goods and transforming energy on an almost unimaginable scale.
Download for free: How to capitalize on trillions of infrastructure spending >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 of the best stocks for the next 30 days. Click for this free report
Okta, Inc. (OKTA): Free Stock Analysis Report
To read this article on Zacks.com click here.