Benzinga - by Lisa Levin, Benzinga Editor.
The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
The Trade Desk, Inc. (NASDAQ: TTD)
- The Trade Desk reported quarterly earnings of 33 cents per share, beating the analyst consensus estimate of 29 cents. "Q3 was a strong quarter for The Trade Desk as we delivered revenue of $493 million, accelerating growth to 25%. This performance underlines the premium that advertisers are placing on precision, agility and transparency as they seek to maximize returns from their campaigns," said Jeff Green, Co-founder and CEO. The company’s stock has a 52-week low of $41.20 .
- RSI Value: 28.32
- TTD Price Action: Shares of Trade Desk fell 2.6% to close at $76.81 on Thursday.
- Urban One said it is teaming up with TelevisaUnivision Inc. to raise awareness and empower African American and Hispanic voters in the 2024 election cycle. It has a 52-week low of $3.47.
- RSI Value: 27.25
- UONE Price Action: Shares of Urban One gained 6.5% to close at $3.93 on Thursday.
- Criteo posted upbeat earnings for the third quarter. "We are pleased to report a strong third quarter marked by organic growth acceleration and market share gains in Retail Media. We continue to pivot our business towards areas of high growth, which represented more than half of our business for the first time ever this quarter," said Megan Clarken, Chief Executive Officer of Criteo. The company’s stock has a 52-week low of $22.10.
- RSI Value: 27.18
- CRTO Price Action: Shares of Criteo fell 1% to close at $23.16 on Thursday.
- Cardlytics reported worse-than-expected third-quarter sales results. "We are gathering speed with each passing quarter - our platform is starting to look different and the collective improvements we are making to our product and operations are far exceeding our pace from prior years," said Karim Temsamani, Chief Executive Officer. The company’s 52-week low is $2.57.
- RSI Value: 26.47
- CDLX Price Action: Shares of Cardlytics fell 54.5% to close at $6.25 on Thursday.
- DISH Network reported third-quarter revenue of $3.70 billion, missing the consensus of $3.72 billion. The company has a 52-week low of $3.21.
- RSI Value: 29.27
- DISH Price Action: Shares of DISH Network fell 5.8% to close at $3.44 on Thursday.
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