Inseego (INSG) closed at $9.12 in the latest trading session, marking a -0.87% move from the prior day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the holding company had lost 2.13% over the past month, lagging the Computer and Technology sector's gain of 3.8% and the S&P 500's gain of 1.91% in that time.
INSG will be looking to display strength as it nears its next earnings release. In that report, analysts expect INSG to post earnings of -$0.08 per share. This would mark a year-over-year decline of 500%. Meanwhile, our latest consensus estimate is calling for revenue of $52.48 million, down 6.36% from the prior-year quarter.
Any recent changes to analyst estimates for INSG should also be noted by investors. 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. INSG currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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 INSG in the coming trading sessions, be sure to utilize Zacks.com.
Original post
Zacks Investment Research