In the latest close session, AST SpaceMobile, Inc. (ASTS) was down 5.3% at $81.00. The stock's performance was behind the S&P 500's daily loss of 0.24%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 0.26%.
The stock of company has fallen by 4.89% in the past month, lagging the Computer and Technology sector's gain of 9.41% and the S&P 500's gain of 6.42%.
Market participants will be closely following the financial results of AST SpaceMobile, Inc. in its upcoming release. In that report, analysts expect AST SpaceMobile, Inc. to post earnings of -$0.23 per share. This would mark a year-over-year decline of 15%. Our most recent consensus estimate is calling for quarterly revenue of $38.24 million, up 5210.56% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.99 per share and a revenue of $179.42 million, representing changes of +26.12% and +152.99%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AST SpaceMobile, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.29% higher. AST SpaceMobile, Inc. currently has a Zacks Rank of #3 (Hold).
The Wireless Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow ASTS in the coming trading sessions, be sure to utilize Zacks.com.
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AST SpaceMobile, Inc. (ASTS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).