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Why Sierra Wireless (SWIR) Could Be Positioned for a Surge


Sierra Wireless, Inc. SWIR that is engaged in building the Internet of Things (IoT) with intelligent wireless solutions 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 SWIR’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 Sierra Wireless could be a solid choice for investors.

Current Quarter Estimates for SWIR

In the past 30 days, two estimates have gone higher for Sierra Wireless while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 4 cents a share 30 days ago, to 13 cents today, a significant move.

Current Year Estimates for SWIR

Meanwhile, Sierra Wireless’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 39 cents per share 30 days ago to 64 cents per share today, an increase of 64.1%.

Bottom Line

The stock has also started to move higher lately, adding 53.3% 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 #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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