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Immersion (IMMR) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Immersion (IMMR - Free Report) ending at $8.30, denoting a +0.12% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.71%, while the tech-heavy Nasdaq appreciated by 0.2%.
The touch-based technology company's stock has dropped by 3.38% in the past month, falling short of the Computer and Technology sector's gain of 0.04% and the S&P 500's gain of 1.7%.
Market participants will be closely following the financial results of Immersion in its upcoming release.
It's also important for investors to be aware of any recent modifications to analyst estimates for Immersion. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Immersion is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Immersion is currently exchanging hands at a Forward P/E ratio of 5.28. Its industry sports an average Forward P/E of 13.29, so one might conclude that Immersion is trading at a discount comparatively.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.