Brokerages forecast that Inseego Corp (NASDAQ:INSG) will announce $52.48 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Inseego’s earnings. The lowest sales estimate is $51.55 million and the highest is $53.40 million. Inseego posted sales of $56.04 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The company is scheduled to report its next quarterly earnings report on Thursday, March 5th.
On average, analysts expect that Inseego will report full year sales of $219.61 million for the current year, with estimates ranging from $218.71 million to $220.50 million. For the next year, analysts forecast that the business will report sales of $265.92 million, with estimates ranging from $265.90 million to $265.94 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Inseego.
Inseego (NASDAQ:INSG) last announced its earnings results on Wednesday, November 6th. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.08. The firm had revenue of $62.72 million for the quarter, compared to the consensus estimate of $59.77 million. Inseego’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS.
INSG has been the topic of a number of analyst reports. Canaccord Genuity increased their price target on Inseego from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, October 28th. National Securities downgraded Inseego to a “hold” rating and set a $6.50 price target on the stock. in a research report on Friday. Zacks Investment Research raised Inseego from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. BidaskClub raised Inseego from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Northland Securities initiated coverage on Inseego in a research report on Tuesday, November 26th. They set a “buy” rating and a $6.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Inseego currently has a consensus rating of “Buy” and an average price target of $6.67.
NASDAQ:INSG traded up $0.38 during trading hours on Thursday, reaching $7.25. 2,554,464 shares of the company were exchanged, compared to its average volume of 1,104,987. The company has a market capitalization of $555.42 million, a P/E ratio of -60.42 and a beta of 0.75. Inseego has a 1-year low of $3.50 and a 1-year high of $7.25. The business has a 50 day moving average of $5.58 and a 200 day moving average of $4.92.
Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC boosted its holdings in shares of Inseego by 71.2% in the 2nd quarter. Advisory Services Network LLC now owns 10,820 shares of the technology company’s stock valued at $52,000 after purchasing an additional 4,500 shares in the last quarter. BB&T Securities LLC boosted its holdings in shares of Inseego by 14.3% in the 3rd quarter. BB&T Securities LLC now owns 20,000 shares of the technology company’s stock valued at $95,000 after purchasing an additional 2,500 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Inseego by 87.5% in the 3rd quarter. FNY Investment Advisers LLC now owns 51,572 shares of the technology company’s stock valued at $247,000 after purchasing an additional 24,072 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Inseego by 30.9% in the 2nd quarter. Northern Trust Corp now owns 159,290 shares of the technology company’s stock valued at $763,000 after purchasing an additional 37,587 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Inseego by 25.0% in the 3rd quarter. Penserra Capital Management LLC now owns 119,348 shares of the technology company’s stock valued at $572,000 after purchasing an additional 23,864 shares in the last quarter. 47.24% of the stock is currently owned by hedge funds and other institutional investors.
Inseego Company Profile
Inseego Corp. engages in the design and development of mobile, Internet of Things (IoT), and cloud solutions for large enterprise verticals, service providers, and small and medium-sized businesses worldwide. The company provides wireless 3G, 4G, and 5G hardware products that address various markets, including fleet and commercial telematics, aftermarket telematics, smart city infrastructure management, remote monitoring and control, wireless surveillance systems, security and connected home and fixed wireless access, and mobile broadband devices.
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