May is expected to be another volatile month on Wall Street amid a plethora of significant market-moving events.As such, investors should consider adding Salesforce, Walt Disney, and Okta to their portfolio as the new month kicks off.
It should be noted that the Marc Benioff-led company has a long history of beating Wall Street’s quarterly estimates for profit and sales growth, doing so in every quarter dating back to at least Q2 2014. Wall Street is extremely optimistic ahead of the Q1 update, as per an InvestingPro survey, with analysts increasing their EPS estimates 33 times in the past three months to reflect a gain of nearly 150% from their initial expectations.As seen above, Okta is forecast to earn $0.54 per share, surging 155% from a profit of $0.22 a share in the year-ago period.
Widely considered as one of the leaders in the fast-growing identity and access management space, Okta is a solid pick going forward as it benefits from the continuing growth in cybersecurity spending amid the current digital landscape. I regularly rebalance my portfolio of individual stocks and ETFs based on ongoing risk assessment of both the macroeconomic environment and companies' financials.
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