With the stock market coming under pressure recently, it’s tough to find good stocks to look at. Regardless of what’s trending, there is one theme that remains throughout all market conditions. That theme is earnings. Stocks which make the most money are likely to reward investors with the greatest profits. One such stock is today’s Bull of the Day.
That Bull of the Day is Zacks Rank #1 (Strong Buy) Cloudera (CLDR - Free Report) . Cloudera is in an industry which ranks in the Top 9% of our Zacks Industry Rank. Cloudera, Inc. provides platform for machine learning and analytics in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. Its platform delivers an integrated suite of capabilities for data management, machine learning, and analytics to customers for transforming their businesses.
The reason for the favorable Zacks Rank lies in the series of recent earnings estimate revisions to the upside. Over the course of the last 30 days, four analysts have increased their estimates for the currently quarter while six have done so for the current year. The bullish sentiment has pushed up the Zacks Consensus Estimate for the current quarter from a 14-cent loss to a 12-cent loss while the current year number has jumped from a 51-cent loss to a 41-cent loss.
The bullish attitude has helped underpin a move in the stock price off the lows under $11 to over $12.30 where the stock closed on Friday. Overhead resistance remains at the swing high just over $13 as well as the early November peak at $15.00.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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