Analysts Expect Inseego Corp (INSG) Will Post Quarterly Sales of $53.39 Million

Analysts expect Inseego Corp (NASDAQ:INSG) to report $53.39 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Inseego’s earnings, with the lowest sales estimate coming in at $51.38 million and the highest estimate coming in at $55.40 million. Inseego reported sales of $46.53 million during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is expected to issue its next earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that Inseego will report full year sales of $199.80 million for the current fiscal year, with estimates ranging from $197.80 million to $201.80 million. For the next fiscal year, analysts forecast that the company will post sales of $228.33 million, with estimates ranging from $224.96 million to $231.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Inseego.

Inseego (NASDAQ:INSG) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.23. The firm had revenue of $50.63 million for the quarter, compared to analyst estimates of $50.59 million.

Several research analysts have recently weighed in on the stock. Northland Securities boosted their price objective on shares of Inseego from $3.00 to $4.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. BidaskClub lowered shares of Inseego from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Canaccord Genuity upgraded shares of Inseego from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.25 to $4.50 in a research note on Thursday, September 6th. Zacks Investment Research raised shares of Inseego from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Friday, November 9th. Finally, Roth Capital assumed coverage on shares of Inseego in a report on Friday, October 12th. They set a “buy” rating and a $5.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Inseego has a consensus rating of “Buy” and an average price target of $4.75.

Shares of Inseego stock traded down $0.17 during trading on Tuesday, hitting $3.73. 506,633 shares of the stock were exchanged, compared to its average volume of 406,436. The firm has a market capitalization of $273.75 million, a PE ratio of -4.78 and a beta of 0.52. Inseego has a 1-year low of $1.50 and a 1-year high of $4.49.

In related news, Director Jeffrey Tuder sold 12,685 shares of Inseego stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $3.70, for a total transaction of $46,934.50. Following the completion of the sale, the director now owns 126,413 shares of the company’s stock, valued at approximately $467,728.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 154,191 shares of company stock valued at $569,966 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. PEAK6 Investments LLC bought a new stake in shares of Inseego during the 3rd quarter worth about $106,000. Jane Street Group LLC bought a new stake in shares of Inseego during the 3rd quarter worth about $134,000. Virtu Financial LLC bought a new stake in shares of Inseego during the 3rd quarter worth about $156,000. FNY Investment Advisers LLC bought a new stake in Inseego in the 3rd quarter valued at about $380,000. Finally, ClariVest Asset Management LLC bought a new stake in Inseego in the 3rd quarter valued at about $480,000. 25.26% 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.

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