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OptimizeRx Corp. (OPRX) Soars 7.2%: Is Further Upside Left in the Stock?
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OptimizeRx Corp. (OPRX - Free Report) shares soared 7.2% in the last trading session to close at $13.44. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29% loss over the past four weeks.
The increase in share price can be attributed to announcement of a new share repurchase program by OptimizeRx. Under the new buyback program, the company's board of directors have approved repurchase of up to $15 million of the stock.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $12.37 million, down 9.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For OptimizeRx Corp., the consensus EPS estimate for the quarter has been revised 18.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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.
OptimizeRx Corp. belongs to the Zacks Computer - Software industry. Another stock from the same industry, Smith Micro Software, Inc. (SMSI - Free Report) , closed the last trading session 2.6% lower at $1.14. Over the past month, SMSI has returned -63.3%.
For Smith Micro Software, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. This represents no change from what the company reported a year ago. Smith Micro Software, Inc. currently has a Zacks Rank of #2 (Buy).
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OptimizeRx Corp. (OPRX) Soars 7.2%: Is Further Upside Left in the Stock?
OptimizeRx Corp. (OPRX - Free Report) shares soared 7.2% in the last trading session to close at $13.44. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29% loss over the past four weeks.
The increase in share price can be attributed to announcement of a new share repurchase program by OptimizeRx. Under the new buyback program, the company's board of directors have approved repurchase of up to $15 million of the stock.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $12.37 million, down 9.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For OptimizeRx Corp., the consensus EPS estimate for the quarter has been revised 18.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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, Smith Micro Software, Inc. (SMSI - Free Report) , closed the last trading session 2.6% lower at $1.14. Over the past month, SMSI has returned -63.3%.
For Smith Micro Software, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. This represents no change from what the company reported a year ago. Smith Micro Software, Inc. currently has a Zacks Rank of #2 (Buy).