Inseego (US:INSG) ZACKS·2024-08-16 17:00Core Viewpoint - Inseego (INSG) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system highlights the strong correlation between changes in earnings estimates and near-term stock price movements, making it a valuable tool for investors [2][3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to price movements based on their buying or selling actions [3]. Business Improvement Indicators - The upgrade in Zacks Rank for Inseego suggests an improvement in the company's underlying business, which is expected to drive the stock price higher [4]. - The Zacks Rank system effectively captures the impact of earnings estimate revisions, which can be beneficial for investment decisions [5]. Earnings Estimate Revisions for Inseego - For the fiscal year ending December 2024, Inseego is projected to earn $0.13 per share, reflecting a 103.9% increase from the previous year [7]. - Over the past three months, the Zacks Consensus Estimate for Inseego has risen by 74.4%, indicating a positive trend in earnings expectations [7]. Zacks Rank System Overview - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks achieving an average annual return of +25% since 1988 [6]. - Only the top 20% of Zacks-covered stocks receive a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions and potential for market-beating returns [8][9].