Okta (OKTA) closed higher but underperformed the market, upcoming earnings report expected positive.

From Nasdaq: 2024-05-03 17:50:10

Okta (OKTA) closed at $96.55, reflecting a +1.12% change, while the S&P 500 gained 1.26%, the Dow gained 1.18%, and the Nasdaq rose by 1.99%. The cloud identity management company’s upcoming earnings report on May 29, 2024, is expected to show an EPS of $0.54 and quarterly revenue of $604.33 million.

Investors should pay attention to any analyst forecast revisions for Okta, as they indicate short-term business trends and stock price performance. Okta currently holds a Zacks Rank of #3 (Hold), with a Forward P/E ratio of 41.96, trading at a premium compared to its industry average. The company’s PEG ratio is 1.94, above the industry average of 1.05.

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Read more at Nasdaq: Okta (OKTA) Rises Yet Lags Behind Market: Some Facts Worth Knowing