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Inseego (INSG) Outpaces Stock Market Gains: What You Should Know

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Inseego (INSG - Free Report) closed at $13.48 in the latest trading session, marking a +1.97% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.49%.

Coming into today, shares of the holding company had gained 16.27% in the past month. In that same time, the Computer and Technology sector gained 5.59%, while the S&P 500 gained 5.03%.

INSG will be looking to display strength as it nears its next earnings release, which is expected to be August 5, 2020. On that day, INSG is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $79.63 million, up 42.48% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.05 per share and revenue of $299.83 million. These totals would mark changes of +76.19% and +36.6%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for INSG. These revisions help to show the ever-changing nature of 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 shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. INSG currently has a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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