Why Affymetrix (AFFX) Could Be Positioned for a Surge?

Zacks

Affymetrix Inc. (AFFX), a provider of scientific and technical instruments, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.  

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AFFX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Affymetrix could be a solid choice for investors.    

Current Quarter Estimates for AFFX

In the past 30 days, 5 estimates have gone higher for Affymetrix while none have moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 4 cents a share 30 days ago, to 6 cents today, a move of 50.0%.   

Current Year Estimates for AFFX

Meanwhile, Affymetrix’s current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to none moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 11 cents per share 30 days ago to 14 cents per share today, an increase of 27.3%.    

Bottom Line

The stock has also started to move higher lately, adding 5.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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