Xperi (XPER) closed the most recent trading day at $9.56, moving -0.52% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.59%.

The media software company's shares have seen a decrease of 12.4% over the last month, not keeping up with the Business Services sector's loss of 6.46% and the S&P 500's loss of 4.16%.

The investment community will be closely monitoring the performance of Xperi in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $125.23 million, down 1.27% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.37 per share and revenue of $518.56 million, indicating changes of +3600% and -0.53%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Xperi. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Xperi holds a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Xperi is holding a Forward P/E ratio of 25.97. This represents a premium compared to its industry's average Forward P/E of 22.48.

The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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