Immersion Corporation (IMMR) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Immersion Corporation (NASDAQ:IMMR) released its quarterly earnings results on Thursday. The software maker reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.16, Bloomberg Earnings reports. The business had revenue of $11.90 million for the quarter, compared to analyst estimates of $7.33 million. Immersion Corporation had a negative net margin of 190.18% and a negative return on equity of 88.17%. The company’s quarterly revenue was down 54.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share.
Shares of Immersion Corporation (NASDAQ IMMR) traded down $0.36 during midday trading on Friday, reaching $7.58. 294,700 shares of the company were exchanged, compared to its average volume of 145,518. Immersion Corporation has a 1 year low of $6.22 and a 1 year high of $11.92.
A number of analysts recently issued reports on IMMR shares. B. Riley restated a “buy” rating and set a $10.50 target price on shares of Immersion Corporation in a research report on Monday, July 31st. ValuEngine upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Zacks Investment Research upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Cowen and Company set a $11.00 target price on shares of Immersion Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $10.75.
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About Immersion Corporation
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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