$47.55 Million in Sales Expected for Inseego Corp (INSG) This Quarter

Wall Street analysts forecast that Inseego Corp (NASDAQ:INSG) will announce $47.55 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Inseego’s earnings, with the lowest sales estimate coming in at $46.00 million and the highest estimate coming in at $49.10 million. Inseego reported sales of $46.73 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Inseego will report full-year sales of $223.25 million for the current financial year, with estimates ranging from $219.30 million to $227.20 million. For the next fiscal year, analysts anticipate that the company will post sales of $272.40 million, with estimates ranging from $263.00 million to $281.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Inseego.

Inseego (NASDAQ:INSG) last released its quarterly earnings results on Thursday, March 7th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $56.04 million during the quarter, compared to analysts’ expectations of $53.39 million.

A number of research firms recently weighed in on INSG. National Securities began coverage on shares of Inseego in a research note on Wednesday, March 20th. They issued a “buy” rating and a $6.00 target price on the stock. ValuEngine lowered shares of Inseego from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 20th. BidaskClub downgraded shares of Inseego from a “hold” rating to a “sell” rating in a research report on Saturday, March 16th. Zacks Investment Research lowered shares of Inseego from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Finally, Northland Securities reissued a “buy” rating and issued a $6.00 price target on shares of Inseego in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $5.75.

Shares of INSG stock traded up $0.03 on Friday, hitting $4.75. The company’s stock had a trading volume of 8,087 shares, compared to its average volume of 791,455. The firm has a market cap of $348.75 million, a PE ratio of -39.29 and a beta of 0.64. Inseego has a fifty-two week low of $1.64 and a fifty-two week high of $6.00.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc lifted its position in Inseego by 39.8% during the third quarter. Vanguard Group Inc now owns 1,854,954 shares of the technology company’s stock valued at $7,142,000 after buying an additional 528,331 shares during the period. Vanguard Group Inc. increased its holdings in shares of Inseego by 39.8% during the third quarter. Vanguard Group Inc. now owns 1,854,954 shares of the technology company’s stock valued at $7,142,000 after acquiring an additional 528,331 shares in the last quarter. Cannell Capital LLC bought a new position in shares of Inseego during the fourth quarter valued at $6,477,000. Renaissance Technologies LLC increased its holdings in shares of Inseego by 227.3% during the third quarter. Renaissance Technologies LLC now owns 1,479,097 shares of the technology company’s stock valued at $5,695,000 after acquiring an additional 1,027,197 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Inseego by 4.3% in the 4th quarter. BlackRock Inc. now owns 1,095,441 shares of the technology company’s stock worth $4,545,000 after buying an additional 45,008 shares in the last quarter. 41.98% of the stock is owned by institutional investors and hedge funds.

Inseego Company Profile

Inseego Corp., together with its subsidiaries, provides software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. The company sells SaaS, software, and service solutions across multiple IoT vertical markets, including fleet management and vehicle telematics, aviation, usage-based insurance, stolen vehicle recovery, asset tracking and monitoring, business connectivity, and subscription management.

Further Reading: Should you buy a closed-end mutual fund?

Get a free copy of the Zacks research report on Inseego (INSG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Inseego Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inseego and related companies with MarketBeat.com's FREE daily email newsletter.