Arteris, Inc. AIP shares soared 8.6% in the last trading session to close at $7.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.3% gain over the past four weeks.
Arteris is benefiting from increased demand for commercial semiconductor system IP products, driven by the adoption of AI-driven enterprise computing, automotive SoCs, and microcontrollers.
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +26.7%. Revenues are expected to be $15.9 million, up 22.8% 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 Arteris, 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 AIP 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 >>>>
Arteris is part of the Zacks Internet - Software industry. Getty Images Holdings, Inc. GETY, another stock in the same industry, closed the last trading session 2.1% lower at $1.85. GETY has returned 34% in the past month.
Getty Images Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. Compared to the company's year-ago EPS, this represents a change of +200%. Getty Images Holdings, Inc. currently boasts a Zacks Rank of #5 (Strong Sell).
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Arteris, Inc. (AIP): Free Stock Analysis Report Getty Images Holdings, Inc. (GETY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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