SMART Global Holdings, Inc. (SGH - Free Report) are global leaders in specialty memory, storage and hybrid solutions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SGH’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that SMART Global could be a solid choice for investors.
Current Quarter Estimates for SGH
In the past 30 days, four estimates have gone higher for SMART Global while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing 90 cents a share 30 days ago, to $1.33 today, a move of 47.8%.
Current Year Estimates for SGH
Meanwhile, SMART Global’s current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.79 a share 30 days ago, to $4.98 today, an increase of 31.4%.
The stock has also started to move higher lately, adding 29.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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