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MARKETS LIVE BLOG:

STOCK FUTURES JUMP, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Funko-A (FNKO) Stock Jumps 19.9%: Will It Continue to Soar?

Zacks Equity Research
·2 min read

Funko-A FNKO shares ended the last trading session 19.9% higher at $25.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% loss over the past four weeks.

Shares of Funko jumped after the company posted better-than-expected first quarter 2021 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Notably, the company reported solid revenues for its Pop and Loungefly segments owing to strength in e-commerce, mass market and direct-to-consumer channels. Moreover, the company provided better-than-expected 2021 adjusted earnings per share in the range of 98 cents to $1.12. The consensus mark for 2021 earnings is currently pegged at 93 cents per share.

Price and Consensus

Price Consensus Chart for FNKO
Price Consensus Chart for FNKO

This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +135%. Revenues are expected to be $185.68 million, up 89.3% from the year-ago quarter.

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Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Funko-A, the consensus EPS estimate for the quarter has been revised 41.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FNKO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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Funko, Inc. (FNKO): Free Stock Analysis Report

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Zacks Investment Research