AST SpaceMobile, Inc. (ASTS) ended the recent trading session at $92.72, demonstrating a -5.76% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the company had gained 45.1% outpaced the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 2.26%.
The investment community will be closely monitoring the performance of AST SpaceMobile, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.17, signifying a 41.67% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $38.27 million, indicating a 1893.02% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.06 per share and a revenue of $54.87 million, demonstrating changes of -60.61% and 0%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for AST SpaceMobile, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, AST SpaceMobile, Inc. is carrying a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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AST SpaceMobile, Inc. (ASTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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