August 26, 2021 4 min read

This story originally appeared on Zacks

Afya (AFYA) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -85%. A quarter ago, it was expected that this medical education company would post earnings of $0.26 per share when it actually produced earnings of $0.21, delivering a surprise of -19.23%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Afya, which belongs to the Zacks Schools industry, posted revenues of $70.29 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 4.84%. This compares to year-ago revenues of $51.11 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Afya shares have lost about 16.2% since the beginning of the year versus the S&P 500’s gain of 19.7%.

What’s Next for Afya?

While Afya has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Afya was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $82.3 million in revenues for the coming quarter and $0.89 on $317.48 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Schools is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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Zacks Investment Research

August 26, 2021 4 min read

This story originally appeared on Zacks

Peloton (PTON) came out with a quarterly loss of $1.05 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -133.33%. A quarter ago, it was expected that this exercise bike and treadmill company would post a loss of $0.11 per share when it actually produced a loss of $0.03, delivering a surprise of 72.73%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Peloton, which belongs to the Zacks Leisure and Recreation Products industry, posted revenues of $936.9 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 0.14%. This compares to year-ago revenues of $607.1 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Peloton shares have lost about 23.4% since the beginning of the year versus the S&P 500’s gain of 19.7%.

What’s Next for Peloton?

While Peloton has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Peloton was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.10 on $1.02 billion in revenues for the coming quarter and $0.48 on $5.2 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Products is currently in the top 9% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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Zacks Investment Research

August 26, 2021 3 min read

This story originally appeared on Zacks

United Airlines (UAL) closed the most recent trading day at $47.01, moving -1.22% from the previous trading session. This change lagged the S&P 500’s daily loss of 0.58%.

Heading into today, shares of the airline had lost 3.15% over the past month, lagging the Transportation sector’s loss of 0.66% and the S&P 500’s gain of 2.07% in that time.

Wall Street will be looking for positivity from UAL as it approaches its next earnings report date. On that day, UAL is projected to report earnings of -$0.40 per share, which would represent year-over-year growth of 95.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.28 billion, up 232.69% from the year-ago period.

UAL’s full-year Zacks Consensus Estimates are calling for earnings of -$11.02 per share and revenue of $25.76 billion. These results would represent year-over-year changes of +60.03% and +67.77%, respectively.

Investors might also notice recent changes to analyst estimates for UAL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.37% higher. UAL is holding a Zacks Rank of #3 (Hold) right now.

The Transportation – Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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United Airlines Holdings Inc (UAL): Free Stock Analysis Report
 
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Zacks Investment Research

August 26, 2021 4 min read

This story originally appeared on Zacks

In the latest trading session, Thermo Fisher Scientific (TMO) closed at $552.77, marking a +0.86% move from the previous day. This change outpaced the S&P 500’s 0.58% loss on the day.

Prior to today’s trading, shares of the maker of scientific instrument and laboratory supplies had gained 3.75% over the past month. This has outpaced the Medical sector’s gain of 2.3% and the S&P 500’s gain of 2.07% in that time.

Investors will be hoping for strength from TMO as it approaches its next earnings release. On that day, TMO is projected to report earnings of $4.59 per share, which would represent a year-over-year decline of 18.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.22 billion, down 3.53% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $22.07 per share and revenue of $35.98 billion. These totals would mark changes of +12.89% and +11.66%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for TMO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.27% higher. TMO currently has a Zacks Rank of #3 (Hold).

Investors should also note TMO’s current valuation metrics, including its Forward P/E ratio of 24.84. For comparison, its industry has an average Forward P/E of 40.07, which means TMO is trading at a discount to the group.

Investors should also note that TMO has a PEG ratio of 1.27 right now. 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. Medical – Instruments stocks are, on average, holding a PEG ratio of 3.29 based on yesterday’s closing prices.

The Medical – Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

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August 26, 2021 3 min read

This story originally appeared on Zacks

In the latest trading session, UiPath (PATH) closed at $63.85, marking a -1.65% move from the previous day. This change lagged the S&P 500’s 0.58% loss on the day.

Prior to today’s trading, shares of the enterprise automation software developer had gained 2.95% over the past month. This has outpaced the Business Services sector’s loss of 0.96% and the S&P 500’s gain of 2.07% in that time.

Investors will be hoping for strength from PATH as it approaches its next earnings release, which is expected to be September 7, 2021.

It is also important to note the recent changes to analyst estimates for PATH. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PATH is holding a Zacks Rank of #3 (Hold) right now.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
UiPath, Inc. (PATH): Free Stock Analysis Report
 
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August 26, 2021 3 min read

This story originally appeared on Zacks

Navient (NAVI) closed at $22.50 in the latest trading session, marking a -0.31% move from the prior day. This move was narrower than the S&P 500’s daily loss of 0.58%.

Heading into today, shares of the student loan servicing company had gained 13.59% over the past month, outpacing the Finance sector’s gain of 3.96% and the S&P 500’s gain of 2.07% in that time.

Wall Street will be looking for positivity from NAVI as it approaches its next earnings report date. The company is expected to report EPS of $0.83, down 16.16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $274.95 million, down 18.17% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.26 per share and revenue of $1.11 billion. These totals would mark changes of +31.48% and -14.57%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for NAVI. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.99% higher. NAVI currently has a Zacks Rank of #3 (Hold).

In terms of valuation, NAVI is currently trading at a Forward P/E ratio of 5.3. Its industry sports an average Forward P/E of 7.43, so we one might conclude that NAVI is trading at a discount comparatively.

The Financial – Consumer Loans industry is part of the Finance sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.

To follow NAVI in the coming trading sessions, be sure to utilize Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Navient Corporation (NAVI): Free Stock Analysis Report
 
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August 26, 2021 4 min read

This story originally appeared on Zacks

Darden Restaurants (DRI) closed the most recent trading day at $148.47, moving -1.13% from the previous trading session. This change lagged the S&P 500’s 0.58% loss on the day.

Heading into today, shares of the owner of Olive Garden and other chain restaurants had gained 1.32% over the past month, outpacing the Retail-Wholesale sector’s loss of 4.18% and lagging the S&P 500’s gain of 2.07% in that time.

DRI will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.64, up 192.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.24 billion, up 46.45% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.50 per share and revenue of $9.4 billion. These totals would mark changes of +74.01% and +30.59%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for DRI. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% higher. DRI is currently a Zacks Rank #3 (Hold).

Investors should also note DRI’s current valuation metrics, including its Forward P/E ratio of 20.03. Its industry sports an average Forward P/E of 25.31, so we one might conclude that DRI is trading at a discount comparatively.

Also, we should mention that DRI has a PEG ratio of 2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. DRI’s industry had an average PEG ratio of 2.97 as of yesterday’s close.

The Retail – Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 123, putting it in the top 49% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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August 26, 2021 3 min read

This story originally appeared on Zacks

Ericsson (ERIC) closed the most recent trading day at $11.90, moving +0.68% from the previous trading session. This change outpaced the S&P 500’s 0.58% loss on the day.

Heading into today, shares of the telecommunications equipment provider had gained 2.69% over the past month, outpacing the Computer and Technology sector’s gain of 2.42% and the S&P 500’s gain of 2.07% in that time.

ERIC will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.19, down 5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.89 billion, up 6.33% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.72 per share and revenue of $27.54 billion. These totals would mark changes of +12.5% and +8.2%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for ERIC. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ERIC is currently a Zacks Rank #4 (Sell).

Investors should also note ERIC’s current valuation metrics, including its Forward P/E ratio of 16.53. Its industry sports an average Forward P/E of 22.19, so we one might conclude that ERIC is trading at a discount comparatively.

Also, we should mention that ERIC has a PEG ratio of 9.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. ERIC’s industry had an average PEG ratio of 3.29 as of yesterday’s close.

The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
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August 26, 2021 3 min read

This story originally appeared on Zacks

Okta (OKTA) closed the most recent trading day at $262.17, moving +0.55% from the previous trading session. This change outpaced the S&P 500’s 0.58% loss on the day.

Coming into today, shares of the cloud identity management company had gained 4.08% in the past month. In that same time, the Computer and Technology sector gained 2.42%, while the S&P 500 gained 2.07%.

Wall Street will be looking for positivity from OKTA as it approaches its next earnings report date. This is expected to be September 1, 2021. The company is expected to report EPS of -$0.35, down 600% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $296.23 million, up 47.78% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.12 per share and revenue of $1.21 billion, which would represent changes of -1118.18% and +44.95%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for OKTA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

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 remained stagnant. OKTA is currently a Zacks Rank #4 (Sell).

The Internet – Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Okta, Inc. (OKTA): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research