25 th Annual Global Investment Conference, being held virtually and in-person on September 11-13 in New York City, New York.ĭwight Egan, Company CEO, will be conducting a presentation discussing Company progress on its forthcoming Co-Dx PCR Home™ platform. (Nasdaq-CM: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that Co-Diagnostics will be presenting at the H.C. 7, 2023 /PRNewswire/ - Co-Diagnostics, Inc. To read this article on click here.SALT LAKE CITY, Sept. Click to get this free reportĬo-Diagnostics, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. You can learn more about the Zacks Rank here > So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Over the past three months, the Zacks Consensus Estimate for the company has increased 800%. This company is expected to earn $0.84 per share for the fiscal year ending December 2020, which represents a year-over-year change of 333.3%.Īnalysts have been steadily raising their estimates for Co-Diagnostics, Inc. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >.Įarnings Estimate Revisions for Co-Diagnostics, Inc. The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions. Harnessing the Power of Earnings Estimate RevisionsĮmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Investors should show their appreciation for this improving business trend by pushing the stock higher. imply an improvement in the company's underlying business. Their bulk investment action then leads to price movement for the stock.įundamentally speaking, rising earnings estimates and the consequent rating upgrade for Co-Diagnostics, Inc. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. Most Powerful Force Impacting Stock Prices basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. Therefore, the Zacks rating upgrade for Co-Diagnostics, Inc. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time. Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure - the Zacks Consensus Estimate. The Zacks rating relies solely on a company's changing earnings picture. This rating change essentially reflects an upward trend in earnings estimates - one of the most powerful forces impacting stock prices. (CODX) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy).
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