Livongo Health (LVGO) Outpaces Stock Market Gains: What You Should Know

Livongo Health (LVGO) closed at $104.11 in the latest trading session, marking a +0.53% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.29%. At the same time, the Dow lost 0.24%, and the tech-heavy Nasdaq gained 0.28%.

Coming into today, shares of the digital health company had gained 47.69% in the past month. In that same time, the Medical sector gained 3.14%, while the S&P 500 gained 2.96%.

LVGO will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2020. In that report, analysts expect LVGO to post earnings of $0.01 per share. This would mark year-over-year growth of 102.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.33 million, up 106.23% from the year-ago period.

LVGO's full-year Zacks Consensus Estimates are calling for earnings of -$0.06 per share and revenue of $328.77 million. These results would represent year-over-year changes of +84.62% and +93.17%, respectively.

It is also important to note the recent changes to analyst estimates for LVGO. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. LVGO is currently sporting a Zacks Rank of #3 (Hold).

The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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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.

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