Inseego (INSG) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Inseego (INSG) closed at $9.31, marking a -1.69% move from the previous day. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.64%.
Prior to today's trading, shares of the holding company had lost 11.25% over the past month. This has lagged the Computer and Technology sector's gain of 4.11% and the S&P 500's gain of 3.25% in that time.
INSG will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2020. In that report, analysts expect INSG to post earnings of $0 per share. This would mark year-over-year growth of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.67 million, up 30.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $303.20 million, which would represent changes of +76.19% and +38.13%, respectively, from the prior year.
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.
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 #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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