In the latest market close, Immersion (IMMR) reached $7.46, with a -1.32% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 0.52%.
Shares of the touch-based technology company have depreciated by 12.09% over the course of the past month, underperforming the Computer and Technology sector's loss of 12.04% and the S&P 500's loss of 7.33%.
The investment community will be closely monitoring the performance of Immersion in its forthcoming earnings report.
Any recent changes to analyst estimates for Immersion should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.29% increase. Immersion currently has a Zacks Rank of #2 (Buy).
With respect to valuation, Immersion is currently being traded at a Forward P/E ratio of 4.18. This denotes a discount relative to the industry's average Forward P/E of 7.73.
The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IMMR in the coming trading sessions, be sure to utilize Zacks.com.
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Immersion Corporation (IMMR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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