While Tech Data has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's Earnings outlook.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings Estimate Revisions.
Ahead of this earnings release, the estimate revisions trend for Tech Data was favorable.
While the magnitude and direction of estimate revisions could change following the company's just-released Earnings Report, the current status translates into a Zacks Rank #2 (Buy) for the stock.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead.
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