OBALON THERPTCS (OBLN) closed at $0.68 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the company had gained 34.04% over the past month. This has outpaced the Medical sector's gain of 1.66% and the S&P 500's loss of 3.66% in that time.
OBLN will be looking to display strength as it nears its next earnings release. On that day, OBLN is projected to report earnings of -$0.36 per share, which would represent year-over-year growth of 49.3%. Meanwhile, our latest consensus estimate is calling for revenue of $1.74 million, up 28.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.29 per share and revenue of $9.03 million. These totals would mark changes of +34.18% and -0.78%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for OBLN. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 2.12% lower. OBLN is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.
To follow OBLN in the coming trading sessions, be sure to utilize Zacks.com.
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