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Here's Why Immersion (IMMR) Fell More Than Broader Market
Immersion (IMMR - Free Report) closed the most recent trading day at $8.05, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 1.59%. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 2.78%.
The the stock of touch-based technology company has fallen by 2.61% in the past month, leading the Computer and Technology sector's loss of 4.81% and undershooting the S&P 500's loss of 2.23%.
Analysts and investors alike will be keeping a close eye on the performance of Immersion in its upcoming earnings disclosure.
Investors should also note any recent changes to analyst estimates for Immersion. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Immersion possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Immersion is presently trading at a Forward P/E ratio of 5.22. This signifies a discount in comparison to the average Forward P/E of 8.48 for its industry.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 50, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.