In the latest trading session, Inseego (INSG) closed at $11.12, marking a +1.46% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.31%, while the tech-heavy Nasdaq lost 2.29%.
Heading into today, shares of the holding company had gained 6.41% over the past month, outpacing the Computer and Technology sector's gain of 5.9% and the S&P 500's gain of 5.2% in that time.
INSG will be looking to display strength as it nears its next earnings release, which is expected to be August 5, 2020. On that day, INSG is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.63 million, up 42.48% from the year-ago period.
INSG's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $299.83 million. These results would represent year-over-year changes of +76.19% and +36.6%, respectively.
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 has moved 1.49% higher. INSG is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
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Inseego Corp. (INSG) : Free Stock Analysis Report
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