Today’s Research Reports on Stocks to Watch: Illumina and Okta

NEW YORK, NY / ACCESSWIRE / July 31, 2018 / Illumina shares broke out in after-hours trading on Monday after reporting second quarter results that beat on both the top and bottom line. Shares of Otka closed down almost 10% as it followed other tech stocks into the red, despite any news from the company itself.

RDI Initiates Coverage on:

Illumina, Inc.
https://www.rdinvesting.com/report/?ticker=ILMN

Okta, Inc.
https://www.rdinvesting.com/report/?ticker=OKTA

Illumina, Inc. shares closed down 3.95% yesterday but saw a 6.92% jump in after-hours trading after the company reported its second quarter financial report. The San Diego-based company which markets integrated systems for the analysis of genetic variation and biological function reported a profit of $1.41 a share. Adjusted earnings per share were $1.43 a share. Wall Street had been anticipating earnings per share of just $1.11. Revenue for the period of $830 million also surpassed the $787.6 million that analysts had been waiting for. For the full year, the company has forecast earnings in the range of $5.35 to $5.45 a share. “Driven by broad demand across applications, systems and geographies, revenue grew 25% from the second quarter of 2017, and we are now expecting revenue growth of approximately 20% for 2018,” said Francis deSouza, the company’s President and CEO. “Sequencing consumables, array consumables, and lab and other services each grew more than 30% compared to the second quarter of 2017, highlighting the growing interest in genomic information and its application to research, clinical and consumer markets.” The stock is up roughly 32% since the year started.

Access RDI’s Illumina, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=ILMN

Okta, Inc. shares closed down 9.62% on Monday with about 4 million shares traded. The stock saw a big drop on no particular news perhaps following broader tech and growth stocks that saw losses. It was earlier in July that the leading independent provider of identity for the enterprise had said that it acquired ScaleFT in order to bring Zero Trust to the enterprise together by providing organizations with a framework to protect sensitive data, without compromising on experience. COO and co-founder of Okta, Frederic Kerrest, commented, “Companies have realized they can no longer trust their network and have to understand device security — instead of trusting everyone behind a firewall, now IT and security leaders must trust no one, inside or outside the organization. To help our customers increase security while also meeting the demands of the modern workforce, we’re acquiring ScaleFT to further our contextual access management vision — and ensure the right people get access to the right resources for the shortest amount of time. Zero Trust is the security paradigm for today’s threat landscape, and identity is the unifying component which makes it all possible. In order to implement Zero Trust the right way, organizations must move away from the static credentials and access controls, the antiquated approach of perimeter-based security, and instead focus on adaptive and context-aware controls to make better, continuous access decisions.”

Access RDI’s Okta, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=OKTA

Our Actionable Research on Illumina, Inc. (NASDAQ: ILMN) and Okta, Inc. (NASDAQ: OKTA) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 507496