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Sarah Patel's Avatar
published in Blogs
Jun 05, 2022

Okta (OKTA, $98.38) tops Q1 earnings expectations

Okta posted its first quarter earnings that exceeded analysts’ expectations.

The enterprise identity management company’s earnings came in at ($0.27) per share for the quarter, beating analysts’ consensus estimates of ($0.34), MarketWatch Earnings reports.

Revenue surged +65.3% from the year-ago quarter to $414.94 million, compared to the consensus estimate of $388.77 million.

Okta updated its second quarter earnings outlook on loss per share at   $(0.32)-(0.31) for the period, compared to the consensus estimate of ($0.34). The company expects revenue in the range of $428-430 million for the quarter, compared to the consensus revenue estimate of $422.87 million. For its FY 2023, it expects earnings per share in the range of  -$1.14–$1.11 .

Related Ticker: OKTA

OKTA in upward trend: price rose above 50-day moving average on May 17, 2023

OKTA moved above its 50-day moving average on May 17, 2023 date and that indicates a change from a downward trend to an upward trend. In of 32 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 08, 2023. You may want to consider a long position or call options on OKTA as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for OKTA just turned positive on May 05, 2023. Looking at past instances where OKTA's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .

The 10-day moving average for OKTA crossed bullishly above the 50-day moving average on May 19, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OKTA advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 275 cases where OKTA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 16 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

OKTA broke above its upper Bollinger Band on May 30, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. OKTA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. OKTA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.701) is normal, around the industry mean (31.306). P/E Ratio (0.000) is within average values for comparable stocks, (168.128). Projected Growth (PEG Ratio) (4.787) is also within normal values, averaging (4.122). Dividend Yield (0.000) settles around the average of (0.040) among similar stocks. P/S Ratio (7.734) is also within normal values, averaging (70.523).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), SERVICENOW (NYSE:NOW), Uber Technologies (NYSE:UBER), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), Activision Blizzard (NASDAQ:ATVI).

Industry description

Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.

Market Cap

The average market capitalization across the Packaged Software Industry is 7.73B. The market cap for tickers in the group ranges from 291 to 2.44T. MSFT holds the highest valuation in this group at 2.44T. The lowest valued company is BLGI at 291.

High and low price notable news

The average weekly price growth across all stocks in the Packaged Software Industry was 1%. For the same Industry, the average monthly price growth was 8%, and the average quarterly price growth was 21%. CDXFF experienced the highest price growth at 190%, while RAYT experienced the biggest fall at -75%.

Volume

The average weekly volume growth across all stocks in the Packaged Software Industry was -19%. For the same stocks of the Industry, the average monthly volume growth was 1% and the average quarterly volume growth was -15%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 53
P/E Growth Rating: 71
Price Growth Rating: 50
SMR Rating: 83
Profit Risk Rating: 89
Seasonality Score: 14 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a provider of an enterprise-grade identity management services

Industry PackagedSoftware

Profile
Fundamentals
Details
Industry
Packaged Software
Address
100 First Street
Phone
+1 888 722-7871
Employees
6013
Web
https://www.okta.com
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OKTA and

Correlation & Price change

A.I.dvisor indicates that over the last year, OKTA has been closely correlated with MDB. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if OKTA jumps, then MDB could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To OKTA
1D Price
Change %
OKTA100%
+0.88%
MDB - OKTA
72%
Closely correlated
+0.49%
VEEV - OKTA
66%
Loosely correlated
+1.31%
DDOG - OKTA
64%
Loosely correlated
+1.30%
ZS - OKTA
64%
Loosely correlated
+0.56%
NCNO - OKTA
63%
Loosely correlated
-0.29%
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