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Immersion stock modestly outperforms S&P 500, despite monthly depreciation

Immersion stock modestly outperforms S&P 500, despite monthly depreciation
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

In the latest trading session, Immersion (NASDAQ:) saw its shares close at $6.39, marking a 1.59% increase from the previous day. This performance marginally surpassed the S&P 500’s gain of 0.65%.

Today’s rise in Immersion’s stock price comes despite a challenging past month for the company. Over this period, Immersion’s shares depreciated by 6.68%, underperforming both the Computer and Technology sector and the S&P 500, which lost 2.93% and 2.79% respectively.

Market analysts are closely monitoring Immersion’s upcoming earnings release. According to Zacks Consensus Estimates, the company is projected to report a quarterly EPS of $0.12 and revenue of $7.7 million. These figures represent significant year-on-year decreases of 57.14% and 45.04% respectively.

In terms of annual earnings, Immersion is expected to report $0.75 per share with a revenue of $31 million, indicating declines of 14.77% and 19.4%. These projections take into account recent estimate revisions that reflect changing business trends.

InvestingPro Insights

In addition to the Zacks Consensus Estimates, InvestingPro offers real-time data and tips that could be valuable in assessing Immersion’s financial health and performance.

InvestingPro Data reveals that Immersion has a market cap of $206.02M and a P/E ratio of 4.87. The company’s P/E ratio as of Q2 2023 is 5.14, implying that the stock is trading at a low earnings multiple. Revenue growth for the last twelve months as of Q2 2023 was 15.57%, despite a quarterly revenue decline of 12.53% in Q2 2023. The company’s return on assets for the same period was 22.69%.

InvestingPro Tips indicate that Immersion’s management has been aggressively buying back shares, which can be a positive sign for investors. The company also holds more cash than debt on its balance sheet and has been profitable over the last twelve months. These factors, along with the high return on assets and the low earnings multiple, suggest that Immersion might be undervalued.

InvestingPro provides numerous other tips for Immersion and other companies. These insights can be vital for making informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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