OBALON THERPTCS closed at $0.42 in the latest trading session, marking a -1.96% move from the prior day. This change lagged the S&P 500's 0.58% loss on the day. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the company had lost 8.32% in the past month. In that same time, the Medical sector lost 0.19%, while the S&P 500 lost 0.88%.
Wall Street will be looking for positivity from OBLN as it approaches its next earnings report date. In that report, analysts expect OBLN to post earnings of -$0.36 per share. This would mark year-over-year growth of 49.3%. Our most recent consensus estimate is calling for quarterly revenue of $1.74 million, up 28.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.29 per share and revenue of $9.03 million. These totals would mark changes of +34.18% and -0.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for OBLN. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 2.12% lower. OBLN is currently a Zacks Rank #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% 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.