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Xperi (XPER) Stock Jumps 6.6%: Will It Continue to Soar?
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Xperi (XPER - Free Report) shares soared 6.6% in the last trading session to close at $6.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.6% loss over the past four weeks.
The stock is benefiting from Xperi’s progress on key growth initiatives, including stronger engagement on its TV platform, expansion in connected vehicles, and continued IPTV adoption.
This media software company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -51%. Revenues are expected to be $110.5 million, down 16.9% 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 Xperi, 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 XPER going forward to see if this recent jump can turn into more strength down the road.
Xperi belongs to the Zacks Technology Services industry. Another stock from the same industry, NextNav Inc. (NN - Free Report) , closed the last trading session 0.6% higher at $17.18. Over the past month, NN has returned 9.9%.
For Spartacus Acquisition, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of -27.3% from what the company reported a year ago. Spartacus Acquisition currently has a Zacks Rank of #4 (Sell).
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Xperi (XPER) Stock Jumps 6.6%: Will It Continue to Soar?
Xperi (XPER - Free Report) shares soared 6.6% in the last trading session to close at $6.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.6% loss over the past four weeks.
The stock is benefiting from Xperi’s progress on key growth initiatives, including stronger engagement on its TV platform, expansion in connected vehicles, and continued IPTV adoption.
This media software company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -51%. Revenues are expected to be $110.5 million, down 16.9% 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 Xperi, 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 XPER going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Xperi belongs to the Zacks Technology Services industry. Another stock from the same industry, NextNav Inc. (NN - Free Report) , closed the last trading session 0.6% higher at $17.18. Over the past month, NN has returned 9.9%.
For Spartacus Acquisition, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of -27.3% from what the company reported a year ago. Spartacus Acquisition currently has a Zacks Rank of #4 (Sell).