But after this fresh 52 week high and the positive price momentum, investors have to be wondering if inContact can continue to push higher or if a pullback is overdue. One place to find the answer could be in the recent earnings estimate revision activity that is taking place in SAAS.
Recent Estimates
Despite the move higher in inContact's stock price, we have seen pretty negative earnings estimate revisions as of late, which means that analysts are becoming more bearish about SAAS's prospects. In fact, 2 estimates have gone lower in the past two months compared to no upward revision, while the consensus estimate has moved in the wrong direction over the same time frame too.
We actually give SAAS a Zacks Rank #4 (Sell) based on this information and think that the move higher for this company might be a bit overdone. So while trading has certainly been good lately, estimates suggest that this run could soon enter a consolidation period and that a pullback may be ahead for this ‘sell' ranked stock in the near term.
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INCONTACT INC (NASDAQ: SAAS): Free Stock Analysis Report
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