Inseego (INSG) closed the most recent trading day at $6.94, moving -1.14% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.17%. At the same time, the Dow lost 3.77%, and the tech-heavy Nasdaq lost 2.28%.
Coming into today, shares of the holding company had gained 0.86% in the past month. In that same time, the Computer and Technology sector lost 7.24%, while the S&P 500 lost 8.05%.
INSG will be looking to display strength as it nears its next earnings release, which is expected to be March 11, 2020. On that day, INSG is projected to report earnings of -$0.08 per share, which would represent a year-over-year decline of 500%. Our most recent consensus estimate is calling for quarterly revenue of $52.48 million, down 6.36% from the year-ago period.
Investors should also note any recent changes to analyst estimates for INSG. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 group has a Zacks Industry Rank of 155, putting it in the bottom 40% 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.
To follow INSG in the coming trading sessions, be sure to utilize Zacks.com.
Inseego Corp. (INSG): Free Stock Analysis Report
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