MiX Telematics Limited
MIXT
shares soared 5.9% in the last trading session to close at $7.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 16.8% loss over the past four weeks.
The company is experiencing significant expansion in subscriber base which has almost recovered to its pre pandemic levels. MiX telematics is expanding its subscriber base in Romania, Brazil and UK as the company is leveraging AI and machine learning to reduce fuel consumptions and optimize driving safety.
This company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of -38.5%. Revenues are expected to be $34.68 million, down 0.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For MiX Telematics Limited, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MIXT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
MiX Telematics Limited belongs to the Zacks Internet – Software industry. Another stock from the same industry,
Paypal
PYPL
, closed the last trading session 3.2% higher at $80.24. Over the past month, PYPL has returned 7.4%.
Paypal’s consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $0.86. Compared to the company’s year-ago EPS, this represents a change of -25.2%. Paypal currently boasts a Zacks Rank of #4 (Sell).
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