Why Immersion (IMMR) Outpaced the Stock Market Today
Immersion (IMMR) closed the most recent trading day at $6.79, moving +1.65% from the previous trading session. This change outpaced the S&P 500's 1.23% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 1.7%.
Coming into today, shares of the touch-based technology company had lost 5.38% in the past month. In that same time, the Computer and Technology sector gained 1.98%, while the S&P 500 gained 0.94%.
Investors will be eagerly watching for the performance of Immersion in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.19, indicating a 57.78% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $9.25 million, indicating a 0.98% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Immersion. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Immersion is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Immersion currently has a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 27.45, which means Immersion is trading at a discount to the group.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 108, finds itself in the top 43% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Immersion Corporation (IMMR) : Free Stock Analysis Report
