Back to top

Image: Bigstock

OptimizeRx Corp. (OPRX) Moves 8.9% Higher: Will This Strength Last?

Read MoreHide Full Article

OptimizeRx Corp. (OPRX - Free Report) shares rallied 8.9% in the last trading session to close at $30.34. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.3% gain over the past four weeks.

This marks the second consecutive day of OptimizeRx’s price increase since it announced the extended omnichannel platform reach via an exclusive alliance with Equals 5. The deal marks the first combination of real-world healthcare data and social data, which will provide important information for treatment to healthcare providers on social media platforms. The company's focus on providing multiple solutions to healthcare providers and patients to improve the quality of healthcare services is a major tailwind.

This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $17.6 million, up 29.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For OptimizeRx Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OPRX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

OptimizeRx Corp. belongs to the Zacks Computer - Software industry. Another stock from the same industry, Pegasystems (PEGA - Free Report) , closed the last trading session 4.6% higher at $52.72. Over the past month, PEGA has returned 5.7%.

For Pegasystems, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of -17.4% from what the company reported a year ago. Pegasystems currently has a Zacks Rank of #3 (Hold).

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

OptimizeRx Corp. (OPRX) - free report >>

Pegasystems Inc. (PEGA) - free report >>

Published in