) just hit a fresh high moving above the psychologically-important
$10 per share level for the first time. This mark is very close to
the 52 week high for inContact which has added roughly 28% in the
last 12 weeks, suggesting that decent momentum is present in SAAS.
But after this fresh 52 week high and the positive price momentum,
investors have to be wondering if inContact can continue to push
higher or if a pullback is overdue. One place to find the answer
could be in the recent earnings estimate revision activity that is
taking place in SAAS.
Despite the move higher in inContact's stock price, we have seen
pretty negative earnings estimate revisions as of late, which means
that analysts are becoming more bearish about SAAS's prospects. In
fact, 2 estimates have gone lower in the past two months compared
to no upward revision, while the consensus estimate has moved in
the wrong direction over the same time frame too.
We actually give SAAS a Zacks Rank #4 (Sell) based on this
information and think that the move higher for this company might
be a bit overdone. So while trading has certainly been good lately,
estimates suggest that this run could soon enter a consolidation
period and that a pullback may be ahead for this 'sell' ranked
stock in the near term.
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INCONTACT INC (SAAS): Free Stock Analysis
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