Okta (OKTA) Soars 3.3%: Is Further Upside Left in the Stock?

Okta OKTA shares ended the last trading session 3.3% higher at $101.1. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.2% loss over the past four weeks.Okta is benefiting from an expanding partner base, along with a strong backlog and an innovative portfolio.This cloud identity management company is expected to post quarterly earnings of $0.84 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $711.04 million, up 10.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Okta, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OKTA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Okta belongs to the Zacks Security industry. Another stock from the same industry, SentinelOne S, closed the last trading session 0.5% higher at $19.56. Over the past month, S has returned 8.1%.For SentinelOne, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. This represents a change of +200% from what the company reported a year ago. SentinelOne currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 SentinelOne, Inc. (S): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks