Is it time to Buy before this week’s earning report Ideanomics (NASDAQ:IDEX)

Earnings results for Ideanomics (NASDAQ:IDEX)

Ideanomics, Inc. is expected* to report earnings on 08/16/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.01. The reported EPS for the same quarter last year was $-0.15.

Ideanomics last posted its earnings data on May 17th, 2021. The reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company earned $32.71 million during the quarter, compared to analyst estimates of $25 million. Ideanomics has generated ($0.43) earnings per share over the last year (($0.39) diluted earnings per share). Earnings for Ideanomics are expected to decrease in the coming year, from ($0.05) to ($0.07) per share. Ideanomics has confirmed that its next quarterly earnings report will be published on Monday, August 16th, 2021. Ideanomics will be holding an earnings conference call on Monday, August 16th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Ideanomics (NASDAQ:IDEX)

1 Wall Street analysts have issued ratings and price targets for Ideanomics in the last 12 months. Their average twelve-month price target is $7.00, predicting that the stock has a possible upside of 207.02%. The high price target for IDEX is $7.00 and the low price target for IDEX is $7.00. There are currently 1 buy rating for the stock, resulting in a consensus rating of “Buy.”

Ideanomics has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $7.00, Ideanomics has a forecasted upside of 207.0% from its current price of $2.28. Ideanomics has received no research coverage in the past 90 days.

Dividend Strength: Ideanomics (NASDAQ:IDEX)

Ideanomics does not currently pay a dividend. Ideanomics does not have a long track record of dividend growth.

Insiders buying/selling: Ideanomics (NASDAQ:IDEX)

In the past three months, Ideanomics insiders have not sold or bought any company stock. 21.50% of the stock of Ideanomics is held by insiders. A high percentage of insider ownership can be a sign of company health. Only 5.03% of the stock of Ideanomics is held by institutions.

Earnings and Valuation of Ideanomics (NASDAQ:IDEX

Earnings for Ideanomics are expected to decrease in the coming year, from ($0.05) to ($0.07) per share. The P/E ratio of Ideanomics is -5.85, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Ideanomics is -5.85, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Ideanomics has a P/B Ratio of 3.93. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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