Why Novavax (NVAX) Dipped More Than Broader Market Today

In the latest close session, Novavax (NVAX) was down 3.68% at $8.37. The stock fell short of the S&P 500, which registered a loss of 0.84% for the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 1.43%. The stock of vaccine maker has risen by 19.86% in the past month, leading the Medical sector's gain of 0.16% and the S&P 500's gain of 1.8%.The investment community will be paying close attention to the earnings performance of Novavax in its upcoming release. The company is expected to report EPS of -$0.66, down 29.41% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $78.41 million, indicating a 11.21% downward movement from the same quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.94 per share and a revenue of $1.05 billion, signifying shifts of +257.72% and 0%, respectively, from the last year. It's also important for investors to be aware of any recent modifications to analyst estimates for Novavax. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.93% higher. Novavax is holding a Zacks Rank of #3 (Hold) right now. The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 39% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novavax, Inc. (NVAX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks