Inseego (INSG) closed at $10.30 in the latest trading session, marking a -1.72% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.59%. Elsewhere, the Dow lost 2.72%, while the tech-heavy Nasdaq lost 2.19%.
Wall Street will be looking for positivity from INSG as it approaches its next earnings report date. In that report, analysts expect INSG to post earnings of -$0.04 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.65 million, up 42.51% from the year-ago period.
INSG's full-year Zacks Consensus Estimates are calling for earnings of -$0.11 per share and revenue of $300.40 million. These results would represent year-over-year changes of +47.62% and +36.86%, respectively.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 47, putting it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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