Analyst upgraded INSG from Neutral to Buy and raised price forecast to $15. Core product growth is strong, with hotspots projected to grow 20% in 2024. Company's adjusted balance sheet allows for potential M&A opportunities moving forward. Analyst anticipates earnings of 2 cents in FY24 and 70 cents in FY26. Sale of Telematics business affects quarterly results but overall growth remains promising.
- Inseego reported quarterly loss of $0.36 per share, beating estimates by 26.53%. - Revenue for March 2024 quarter was $45.01 million, surpassing estimates by 8.72%. - Inseego's stock has gained 70.6% YTD vs. S&P 500's 8.8%. - Inseego holds Zacks Rank #3 (Hold) with mixed estimate revisions trend. - High correlation between stock movements and earnings estimate revisions. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Research Analysis
