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Can Novatel Wireless (MIFI) Run Higher on Strong Earnings Estimate Revisions?

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Novatel Wireless Inc.MIFI is a company in the Wireless Equipment space that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MIFI's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Novatel Wireless could be a solid choice for investors.

Current Quarter Estimates for MIFI

In the past 30 days, estimates have narrowed from a loss of 5 cents a share 30 days ago, to a loss of 4 cents a share today today, a move of 20%.

Current Year Estimates for MIFI

Meanwhile, Novatel Wireless' current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 16 cents per share 30 days ago to a loss of 14 cents per share today, a move of 12.5%.

Bottom Line

The stock has also started to move higher lately, adding 5.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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NOVATEL WIRELES (MIFI): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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