But after this fresh 52 week high and the positive price momentum, investors have to be wondering if Rambus can continue this march higher or if a pullback is overdue. We think that the answer might lie in the recent earnings estimate revision activity that is taking place in RMBS.
Recent Estimates
According to our research, Rambus has seen pretty positive earnings estimate revision activity lately, which means that analysts are becoming more bullish on the company’s prospects. Though there has been no estimate revision in the past three months, the consensus estimate has moved in the right direction.
We actually give RMBS a Zacks Rank #1 (Strong Buy) based on this information and think that the move higher for this company might have some room left to run. So while trading has certainly been good lately, estimates suggest that there might be more to come and that there is still time to get in on this buy ranked stock for more gains in the near term.
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