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Immersion (IMMR) Stock Jumps 7.7%: Will It Continue to Soar?
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Immersion (IMMR - Free Report) shares soared 7.7% in the last trading session to close at $11.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% gain over the past four weeks.
The optimism surrounding the stock can be attributable to growing demand for its digital touch feedback solutions across mobile, automotive, gaming, and other consumer experiences. Immersion’s patented technologies, branded TouchSense, enable devices such as mouse, joysticks, knobs and medical simulation products to deliver tactile sensations that correspond to on-screen events.
This touch-based technology company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +138.1%. Revenues are expected to be $7.29 million, up 4.4% 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 Immersion, the consensus EPS estimate for the quarter has been revised 4.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IMMR going forward to see if this recent jump can turn into more strength down the road.
Immersion belongs to the Zacks Computer - Peripheral Equipment industry. Another stock from the same industry, Turtle Beach (HEAR - Free Report) , closed the last trading session 4.1% higher at $15.50. Over the past month, HEAR has returned -4.2%.
For Turtle Beach, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +34.2% from what the company reported a year ago. Turtle Beach currently has a Zacks Rank of #3 (Hold).
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Immersion (IMMR) Stock Jumps 7.7%: Will It Continue to Soar?
Immersion (IMMR - Free Report) shares soared 7.7% in the last trading session to close at $11.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% gain over the past four weeks.
The optimism surrounding the stock can be attributable to growing demand for its digital touch feedback solutions across mobile, automotive, gaming, and other consumer experiences. Immersion’s patented technologies, branded TouchSense, enable devices such as mouse, joysticks, knobs and medical simulation products to deliver tactile sensations that correspond to on-screen events.
This touch-based technology company is expected to post quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +138.1%. Revenues are expected to be $7.29 million, up 4.4% 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 Immersion, the consensus EPS estimate for the quarter has been revised 4.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IMMR 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 >>>>
Immersion belongs to the Zacks Computer - Peripheral Equipment industry. Another stock from the same industry, Turtle Beach (HEAR - Free Report) , closed the last trading session 4.1% higher at $15.50. Over the past month, HEAR has returned -4.2%.
For Turtle Beach, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +34.2% from what the company reported a year ago. Turtle Beach currently has a Zacks Rank of #3 (Hold).