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OptimizeRx (OPRX) Moves 5.4% Higher: Will This Strength Last?
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OptimizeRx Corp. (OPRX - Free Report) shares soared 5.4% in the last trading session to close at $7.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.
The increase in share price can be attributed to higher demand for the company’s innovative DAAP (Dynamic Audience Activation Platform) solution. The platform offers predictive and secure marketing solutions, which connect patients, HCPs and life sciences across a strong network of clinical and personal platforms.
OPRX is witnessing increasing success in the conversion of the DAAP pipeline into closed deals. The company has more than 300 brands that it supports and it is looking to convert all of them to DAAP. It closed eight DAAP deals (which are direct pharma engagements) in the second quarter, taking the count to 17 deals for the first half of 2024.
OPRX added that it has many DAAP deals in the pipeline, of which nearly half are from the DTC side of the business. It remains focused on cross-selling opportunities to its DTC and HCP clients to drive organic growth.
Amid increasing deals, the company is bolstering its pricing know-how to establish a more consistent pricing mechanism to make revenue recognition more reliable over time.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $24.94 million, up 52.7% 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, 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 OPRX going forward to see if this recent jump can turn into more strength down the road.
OptimizeRx is part of the Zacks Computer - Software industry. Simulations Plus (SLP - Free Report) , another stock in the same industry, closed the last trading session 1.3% lower at $30.85. SLP has returned -9.9% in the past month.
For Simulations Plus, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.04. This represents a change of -77.8% from what the company reported a year ago. Simulations Plus currently has a Zacks Rank of #4 (Sell).
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OptimizeRx (OPRX) Moves 5.4% Higher: Will This Strength Last?
OptimizeRx Corp. (OPRX - Free Report) shares soared 5.4% in the last trading session to close at $7.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.
The increase in share price can be attributed to higher demand for the company’s innovative DAAP (Dynamic Audience Activation Platform) solution. The platform offers predictive and secure marketing solutions, which connect patients, HCPs and life sciences across a strong network of clinical and personal platforms.
OPRX is witnessing increasing success in the conversion of the DAAP pipeline into closed deals. The company has more than 300 brands that it supports and it is looking to convert all of them to DAAP. It closed eight DAAP deals (which are direct pharma engagements) in the second quarter, taking the count to 17 deals for the first half of 2024.
OPRX added that it has many DAAP deals in the pipeline, of which nearly half are from the DTC side of the business. It remains focused on cross-selling opportunities to its DTC and HCP clients to drive organic growth.
Amid increasing deals, the company is bolstering its pricing know-how to establish a more consistent pricing mechanism to make revenue recognition more reliable over time.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $24.94 million, up 52.7% 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, 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 OPRX 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 >>>>
OptimizeRx is part of the Zacks Computer - Software industry. Simulations Plus (SLP - Free Report) , another stock in the same industry, closed the last trading session 1.3% lower at $30.85. SLP has returned -9.9% in the past month.
For Simulations Plus, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.04. This represents a change of -77.8% from what the company reported a year ago. Simulations Plus currently has a Zacks Rank of #4 (Sell).