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NIC (EGOV) closed the most recent trading day at $28.96, moving -1.06% from the previous trading session. This change lagged the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.07%.
EGOV will be looking to display strength as it nears its next earnings release, which is expected to be February 11, 2021. On that day, EGOV is projected to report earnings of $0.26 per share, which would represent year-over-year growth of 73.33%. Meanwhile, our latest consensus estimate is calling for revenue of $122.04 million, up 40.16% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for EGOV. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. EGOV is currently a Zacks Rank #3 (Hold).
Digging into valuation, EGOV currently has a Forward P/E ratio of 28.99. For comparison, its industry has an average Forward P/E of 87.77, which means EGOV is trading at a discount to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 28% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NIC Inc. (EGOV) : Free Stock Analysis Report
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