Stock Performance and Upcoming Earnings
NeuroPace, Inc. (NPCE) saw a remarkable 5.1% increase in its stock value during the last trading session, closing at $6.35. This spike in share price coincided with a significant volume of trades, indicating more investor interest than usual. It’s worth noting that this follows a 10.1% decline in share value over the previous four weeks.
Investors are optimistic about the company’s upcoming third-quarter 2024 financial results, which are set to be announced on Nov. 12, 2024, after the markets close. According to the Zacks Consensus Estimate, third-quarter revenues are projected to rise by 17.6%, with a 7.1% increase expected in earnings.
Quarterly Loss and Revenue Expectations
For the upcoming report, NeuroPace is predicted to post a quarterly loss of $0.26 per share, reflecting a year-over-year improvement of 7.1%. Revenue is anticipated to reach $19.33 million, marking a 17.7% increase from the same quarter last year.
The Importance of Earnings Estimates
While earnings and revenue growth are vital indicators, research indicates that changes in earnings estimates closely relate to stock price movements. Over the past 30 days, the consensus earnings per share (EPS) estimate for NeuroPace has remained steady. Typically, share prices struggle to sustain upward trends without positive movements in earnings estimates, suggesting that investors should monitor NPCE closely to see if recent gains signal further strength.
Zacks Ranking and Industry Comparison
Currently, NeuroPace holds a Zacks Rank #3 (Hold). Investors might also consider Masimo Corporation (MASI), another company in the Zacks Medical – Instruments industry. MASI’s shares decreased by 1% to close at $139.33, though it has seen a 5.7% increase over the past month.
For Masimo, the consensus EPS estimate for its next report has increased by 0.9% over the last month to $0.84, marking a 33.3% rise compared to last year. Masimo currently enjoys a Zacks Rank of #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
