Yahoo Finance These 2 Computer and Technology Stocks Could Beat Earnings: Why They Should Be on Your Radar
Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.
The earnings figure itself is key, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb even higher.
2 Stocks to Add to Your Watchlist
The Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information. With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure.
The final step today is to look at a stock that meets our ESP qualifications. Corning (GLW) earns a Zacks Rank #1 four days from its next quarterly earnings release on July 30, 2024, and its Most Accurate Estimate comes in at $0.47 a share.
By taking the percentage difference between the $0.47 Most Accurate Estimate and the $0.46 Zacks Consensus Estimate, Corning has an Earnings ESP of 1.59%.
GLW is one of just a large database of Computer and Technology stocks with positive ESPs. Another solid-looking stock is Uber Technologies (UBER).
Uber Technologies, which is readying to report earnings on August 6, 2024, sits at a Zacks Rank #3 (Hold) right now. It's Most Accurate Estimate is currently $0.32 a share, and UBER is 11 days out from its next earnings report.
For Uber Technologies, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.31 is 4.19%.
GLW and UBER's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.
Find Stocks to Buy or Sell Before They're Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
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Corning Incorporated (GLW) : Free Stock Analysis Report
Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
